Nicholas Stewart Green Sells 75,000 Shares of Avid Bioservices, Inc. (NASDAQ:CDMO) Stock

Avid Bioservices, Inc. (NASDAQ:CDMO) CEO Nicholas Stewart Green sold 75,000 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $12.31, for a total transaction of $923,250.00. Following the completion of the sale, the chief executive officer now directly owns 151,653 shares of the company’s stock, valued at approximately $1,866,848.43. The trade was a 33.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Nicholas Stewart Green also recently made the following trade(s):

• On Thursday, December 26th, Nicholas Stewart Green sold 145,911 shares of Avid Bioservices stock. The stock was sold at an average price of $12.22, for a total transaction of $1,783,032.42.
• On Monday, December 23rd, Nicholas Stewart Green sold 100,000 shares of Avid Bioservices stock. The stock was sold at an average price of $12.28, for a total transaction of $1,228,000.00.
• On Thursday, October 10th, Nicholas Stewart Green sold 17,173 shares of Avid Bioservices stock. The shares were sold at an average price of $10.05, for a total value of $172,588.65.

Avid Bioservices Stock Down 0.3 %

Shares of NASDAQ CDMO opened at $12.24 on Friday. The company has a market cap of $782.91 million, a price-to-earnings ratio of -5.12 and a beta of 1.44. The company has a current ratio of 1.30, a quick ratio of 1.05 and a debt-to-equity ratio of 3.58. Avid Bioservices, Inc. has a 12 month low of $5.65 and a 12 month high of $12.48. The stock has a 50-day moving average price of $11.75 and a two-hundred day moving average price of $10.38.

Hedge Funds Weigh In On Avid Bioservices

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC acquired a new position in shares of Avid Bioservices during the third quarter worth $38,000. Meeder Asset Management Inc. bought a new position in Avid Bioservices in the second quarter valued at about $38,000. Point72 DIFC Ltd bought a new position in Avid Bioservices in the second quarter valued at about $57,000. Principal Financial Group Inc. acquired a new stake in shares of Avid Bioservices during the second quarter valued at about $80,000. Finally, TradeLink Capital LLC bought a new stake in shares of Avid Bioservices during the second quarter worth about $92,000. Institutional investors own 97.16% of the company’s stock.

Analyst Upgrades and Downgrades

CDMO has been the subject of several analyst reports. StockNews.com raised Avid Bioservices to a “sell” rating in a report on Tuesday, September 10th. William Blair reaffirmed a “market perform” rating on shares of Avid Bioservices in a research report on Thursday, November 7th. Craig Hallum cut shares of Avid Bioservices from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $12.50 price target (up previously from $12.00) on shares of Avid Bioservices in a research report on Thursday, November 7th. Finally, Stephens downgraded shares of Avid Bioservices from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.25.

About Avid Bioservices

Avid Bioservices, Inc operates as a contract development and manufacturing organization for the biotechnology and biopharmaceutical industries in the United States. It provides process development and current good manufacturing practice clinical and commercial manufacturing services of biologics, including clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing, regulatory submission and support, upstream and downstream development and optimization, analytical methods development, cell line development, testing, and characterization services.