4,173 Shares in Avid Bioservices, Inc. (NASDAQ:CDMO) Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. acquired a new position in Avid Bioservices, Inc. (NASDAQ:CDMOGet Rating) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,173 shares of the biopharmaceutical company’s stock, valued at approximately $64,000.

A number of other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC grew its position in Avid Bioservices by 387.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,460 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 2,750 shares in the last quarter. US Bancorp DE bought a new position in Avid Bioservices in the 1st quarter valued at about $76,000. KBC Group NV bought a new position in Avid Bioservices in the 2nd quarter valued at about $82,000. Brinker Capital Investments LLC bought a new position in Avid Bioservices in the 2nd quarter valued at about $157,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Avid Bioservices by 27.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,505 shares of the biopharmaceutical company’s stock valued at $194,000 after buying an additional 2,061 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Avid Bioservices Stock Performance

Shares of CDMO opened at $15.36 on Monday. The firm has a 50-day moving average price of $17.04 and a 200 day moving average price of $16.24. The firm has a market capitalization of $954.89 million, a PE ratio of 8.68 and a beta of 1.81. The company has a quick ratio of 1.61, a current ratio of 1.94 and a debt-to-equity ratio of 0.79. Avid Bioservices, Inc. has a 52-week low of $11.30 and a 52-week high of $34.07.

Avid Bioservices (NASDAQ:CDMOGet Rating) last posted its quarterly earnings data on Tuesday, September 6th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). Avid Bioservices had a net margin of 97.93% and a return on equity of 10.03%. The business had revenue of $36.69 million for the quarter, compared to the consensus estimate of $34.00 million. On average, sell-side analysts anticipate that Avid Bioservices, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other Avid Bioservices news, Director Richard B. Hancock sold 5,000 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $18.43, for a total transaction of $92,150.00. Following the completion of the sale, the director now directly owns 36,881 shares of the company’s stock, valued at $679,716.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Avid Bioservices news, CEO Nicholas Stewart Green sold 7,493 shares of the company’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $17.90, for a total transaction of $134,124.70. Following the completion of the sale, the chief executive officer now directly owns 76,615 shares of the company’s stock, valued at $1,371,408.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard B. Hancock sold 5,000 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $18.43, for a total transaction of $92,150.00. Following the completion of the sale, the director now directly owns 36,881 shares of the company’s stock, valued at $679,716.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,755 shares of company stock worth $248,865. Corporate insiders own 1.86% of the company’s stock.

About Avid Bioservices

(Get Rating)

Avid Bioservices, Inc, a contract development and manufacturing organization, provides process development and current good manufacturing practices (CGMP) clinical and commercial manufacturing services focused on biopharmaceutical drug substances derived from mammalian cell culture. The company produces monoclonal antibodies and recombinant proteins; and offers services, including CGMP clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing, and regulatory submission and support.

Read More

Want to see what other hedge funds are holding CDMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avid Bioservices, Inc. (NASDAQ:CDMOGet Rating).

Institutional Ownership by Quarter for Avid Bioservices (NASDAQ:CDMO)

Receive News & Ratings for Avid Bioservices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avid Bioservices and related companies with MarketBeat.com's FREE daily email newsletter.