Avid Bioservices, Inc. (NASDAQ:CDMO) General Counsel Sells $12,158.20 in Stock

Avid Bioservices, Inc. (NASDAQ:CDMO) General Counsel Mark R. Ziebell sold 1,643 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $7.40, for a total transaction of $12,158.20. Following the completion of the sale, the general counsel now owns 64,834 shares in the company, valued at approximately $479,771.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Avid Bioservices Stock Up 0.6 %

Shares of NASDAQ:CDMO opened at $8.25 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.46 and a quick ratio of 0.31. Avid Bioservices, Inc. has a 12-month low of $4.07 and a 12-month high of $18.86. The business has a 50 day moving average of $7.03 and a two-hundred day moving average of $6.52.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada boosted their target price on shares of Avid Bioservices from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Hedge Funds Weigh In On Avid Bioservices

Several institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Avid Bioservices by 7.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,661 shares of the biopharmaceutical company’s stock worth $293,000 after buying an additional 2,900 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Avid Bioservices by 12.3% in the third quarter. Victory Capital Management Inc. now owns 29,634 shares of the biopharmaceutical company’s stock valued at $280,000 after buying an additional 3,235 shares in the last quarter. M&T Bank Corp raised its position in shares of Avid Bioservices by 6.5% in the third quarter. M&T Bank Corp now owns 85,759 shares of the biopharmaceutical company’s stock worth $810,000 after acquiring an additional 5,231 shares during the period. TD Asset Management Inc boosted its stake in shares of Avid Bioservices by 5.9% during the 3rd quarter. TD Asset Management Inc now owns 114,830 shares of the biopharmaceutical company’s stock worth $1,084,000 after acquiring an additional 6,400 shares in the last quarter. Finally, CWM LLC raised its holdings in Avid Bioservices by 3,125.0% in the 4th quarter. CWM LLC now owns 6,708 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 6,500 shares during the period. 97.16% of the stock is owned by hedge funds and other institutional investors.

About Avid Bioservices

Avid Bioservices, Inc, a contract development and manufacturing organization, provides process development and current good manufacturing practices (CGMP) clinical and commercial manufacturing services of biologics for the biotechnology and biopharmaceutical industries. The company offers various services, including clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing, and regulatory submission and support.