Mark R. Ziebell Sells 1,643 Shares of Avid Bioservices, Inc. (NASDAQ:CDMO) Stock

Avid Bioservices, Inc. (NASDAQ:CDMO) General Counsel Mark R. Ziebell sold 1,643 shares of Avid Bioservices stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $7.40, for a total transaction of $12,158.20. Following the transaction, the general counsel now owns 64,834 shares of the company’s stock, valued at $479,771.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Avid Bioservices Stock Up 0.6 %

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Avid Bioservices

Institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP lifted its stake in Avid Bioservices by 394.8% during the 1st quarter. GSA Capital Partners LLP now owns 92,695 shares of the biopharmaceutical company’s stock valued at $621,000 after acquiring an additional 73,962 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Avid Bioservices by 104.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 61,545 shares of the biopharmaceutical company’s stock valued at $412,000 after purchasing an additional 31,450 shares during the period. BNP Paribas Financial Markets increased its position in shares of Avid Bioservices by 50.8% during the 1st quarter. BNP Paribas Financial Markets now owns 310,559 shares of the biopharmaceutical company’s stock valued at $2,081,000 after purchasing an additional 104,573 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Avid Bioservices by 7.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,661 shares of the biopharmaceutical company’s stock worth $293,000 after purchasing an additional 2,900 shares during the period. Finally, Mather Group LLC. purchased a new position in shares of Avid Bioservices in the first quarter worth approximately $46,000. Institutional investors own 97.16% of the company’s stock.

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.