Nicholas Stewart Green Sells 145,911 Shares of Avid Bioservices, Inc. (NASDAQ:CDMO) Stock

Avid Bioservices, Inc. (NASDAQ:CDMO) CEO Nicholas Stewart Green sold 145,911 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $12.22, for a total transaction of $1,783,032.42. Following the completion of the transaction, the chief executive officer now owns 157,620 shares of the company’s stock, valued at $1,926,116.40. This trade represents a 48.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, December 23rd, Nicholas Stewart Green sold 100,000 shares of Avid Bioservices stock. The shares were sold at an average price of $12.28, for a total transaction of $1,228,000.00.
• On Friday, December 20th, Nicholas Stewart Green sold 75,000 shares of Avid Bioservices stock. The stock was sold at an average price of $12.31, for a total value of $923,250.00.
• 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 Trading Down 0.3 %

NASDAQ CDMO opened at $12.24 on Friday. Avid Bioservices, Inc. has a 12 month low of $5.65 and a 12 month high of $12.48. The company has a current ratio of 1.30, a quick ratio of 1.05 and a debt-to-equity ratio of 3.58. The stock has a 50 day moving average of $11.75 and a 200-day moving average of $10.40. The company has a market cap of $782.91 million, a PE ratio of -5.12 and a beta of 1.44.

Wall Street Analyst Weigh In

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

Institutional Trading of Avid Bioservices

Large investors have recently added to or reduced their stakes in the company. Royce & Associates LP boosted its stake in shares of Avid Bioservices by 7.8% during the 3rd quarter. Royce & Associates LP now owns 789,227 shares of the biopharmaceutical company’s stock worth $8,981,000 after acquiring an additional 57,111 shares during the period. Emerald Advisers LLC bought a new position in Avid Bioservices during the third quarter worth $16,489,000. GSA Capital Partners LLP increased its holdings in shares of Avid Bioservices by 97.3% in the third quarter. GSA Capital Partners LLP now owns 153,070 shares of the biopharmaceutical company’s stock valued at $1,742,000 after purchasing an additional 75,473 shares during the last quarter. Phocas Financial Corp. acquired a new position in shares of Avid Bioservices in the third quarter valued at $2,107,000. Finally, Fisher Asset Management LLC raised its position in shares of Avid Bioservices by 63.3% in the third quarter. Fisher Asset Management LLC now owns 401,081 shares of the biopharmaceutical company’s stock valued at $4,564,000 after purchasing an additional 155,419 shares during the period. Institutional investors and hedge funds own 97.16% of the company’s stock.

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.