Texas Permanent School Fund Acquires 787 Shares of Avid Bioservices, Inc. (NASDAQ:CDMO)

Texas Permanent School Fund lifted its holdings in Avid Bioservices, Inc. (NASDAQ:CDMOGet Rating) by 1.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,445 shares of the biopharmaceutical company’s stock after acquiring an additional 787 shares during the period. Texas Permanent School Fund owned 0.07% of Avid Bioservices worth $678,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CDMO. Comerica Bank boosted its stake in shares of Avid Bioservices by 2.1% in the first quarter. Comerica Bank now owns 52,044 shares of the biopharmaceutical company’s stock worth $948,000 after acquiring an additional 1,070 shares during the period. SG Americas Securities LLC bought a new position in Avid Bioservices during the first quarter valued at approximately $237,000. Envestnet Asset Management Inc. boosted its stake in Avid Bioservices by 259.4% during the first quarter. Envestnet Asset Management Inc. now owns 53,738 shares of the biopharmaceutical company’s stock valued at $1,095,000 after buying an additional 38,786 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Avid Bioservices by 26.4% during the first quarter. Victory Capital Management Inc. now owns 40,461 shares of the biopharmaceutical company’s stock valued at $545,000 after buying an additional 8,447 shares during the last quarter. Finally, Stephens Inc. AR boosted its stake in Avid Bioservices by 15.7% during the first quarter. Stephens Inc. AR now owns 102,196 shares of the biopharmaceutical company’s stock valued at $2,082,000 after buying an additional 13,853 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

Avid Bioservices Price Performance

Shares of Avid Bioservices stock opened at $14.51 on Tuesday. The stock has a 50 day moving average of $16.75 and a 200 day moving average of $16.28. Avid Bioservices, Inc. has a 12 month low of $11.30 and a 12 month high of $33.95. The firm has a market cap of $902.04 million, a PE ratio of 8.20 and a beta of 1.81. The company has a current ratio of 1.94, a quick ratio of 1.61 and a debt-to-equity ratio of 0.79.

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

Insider Buying and Selling at Avid Bioservices

In other Avid Bioservices news, Director Richard B. Hancock sold 5,000 shares of the company’s 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 sale, the director now directly owns 36,881 shares in the company, valued at $679,716.83. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Nicholas Stewart Green sold 7,493 shares of the stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $17.90, for a total value of $134,124.70. Following the sale, the chief executive officer now directly owns 76,615 shares in the company, valued at $1,371,408.50. The sale was disclosed in a document filed with the SEC, which is available at 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 value of $92,150.00. Following the completion of the sale, the director now owns 36,881 shares in the company, valued at $679,716.83. The disclosure for this sale can be found here. Insiders have sold a total of 13,755 shares of company stock worth $248,865 over the last ninety days. Company insiders own 1.86% of the company’s stock.

About Avid Bioservices

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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.

See Also

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

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