Avid Bioservices, Inc. (NASDAQ:CDMO) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC lifted its position in Avid Bioservices, Inc. (NASDAQ:CDMO) by 27.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,556 shares of the biopharmaceutical company’s stock after acquiring an additional 6,739 shares during the period. SG Americas Securities LLC’s holdings in Avid Bioservices were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Emerald Advisers LLC purchased a new stake in Avid Bioservices during the 3rd quarter valued at about $16,489,000. Point72 Asset Management L.P. grew its position in shares of Avid Bioservices by 42.8% in the third quarter. Point72 Asset Management L.P. now owns 3,815,806 shares of the biopharmaceutical company’s stock valued at $43,424,000 after purchasing an additional 1,142,756 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Avid Bioservices in the third quarter valued at approximately $11,953,000. Point72 DIFC Ltd lifted its position in Avid Bioservices by 12,530.9% during the third quarter. Point72 DIFC Ltd now owns 1,003,653 shares of the biopharmaceutical company’s stock worth $11,422,000 after buying an additional 995,707 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in Avid Bioservices by 171.3% during the third quarter. Harbor Capital Advisors Inc. now owns 1,112,592 shares of the biopharmaceutical company’s stock worth $12,661,000 after buying an additional 702,553 shares during the last quarter. 97.16% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Richard A. Richieri sold 2,283 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $12.37, for a total transaction of $28,240.71. Following the completion of the transaction, the insider now directly owns 49,535 shares of the company’s stock, valued at approximately $612,747.95. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas Stewart Green sold 75,000 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,866,848.43. This trade represents a 33.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 349,850 shares of company stock worth $4,288,259 over the last 90 days. Corporate insiders own 3.05% of the company’s stock.

Avid Bioservices Stock Performance

NASDAQ:CDMO opened at $12.48 on Tuesday. Avid Bioservices, Inc. has a fifty-two week low of $5.90 and a fifty-two week high of $12.49. The company has a 50 day moving average price of $12.35 and a 200 day moving average price of $11.27. The stock has a market capitalization of $798.22 million, a P/E ratio of -5.22 and a beta of 1.39. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.92 and a current ratio of 1.30.

Avid Bioservices (NASDAQ:CDMO) last released its earnings results on Tuesday, December 10th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.14). Avid Bioservices had a negative net margin of 101.07% and a negative return on equity of 33.18%. Equities research analysts forecast that Avid Bioservices, Inc. will post -0.46 EPS for the current year.

Analyst Ratings Changes

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

Avid Bioservices Profile

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.