Avid Bioservices, Inc. (NASDAQ:CDMO) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its holdings in shares of Avid Bioservices, Inc. (NASDAQ:CDMO) by 26.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,506 shares of the biopharmaceutical company’s stock after selling 42,640 shares during the period. Sei Investments Co.’s holdings in Avid Bioservices were worth $1,439,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. HighTower Advisors LLC increased its stake in Avid Bioservices by 23.3% during the 4th quarter. HighTower Advisors LLC now owns 13,861 shares of the biopharmaceutical company’s stock worth $171,000 after buying an additional 2,620 shares during the period. Rhumbline Advisers grew its stake in shares of Avid Bioservices by 3.4% in the fourth quarter. Rhumbline Advisers now owns 94,700 shares of the biopharmaceutical company’s stock worth $1,170,000 after acquiring an additional 3,121 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Avid Bioservices during the fourth quarter worth $42,000. Intech Investment Management LLC raised its stake in shares of Avid Bioservices by 28.6% in the fourth quarter. Intech Investment Management LLC now owns 27,591 shares of the biopharmaceutical company’s stock valued at $341,000 after acquiring an additional 6,139 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Avid Bioservices by 11.5% in the third quarter. Franklin Resources Inc. now owns 60,780 shares of the biopharmaceutical company’s stock valued at $692,000 after acquiring an additional 6,259 shares in the last quarter. Institutional investors and hedge funds own 97.16% of the company’s stock.

Insider Activity

In other news, insider Richard A. Richieri sold 2,283 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $12.37, for a total value of $28,240.71. Following the sale, the insider now directly owns 49,535 shares in the company, valued at approximately $612,747.95. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.05% of the company’s stock.

Avid Bioservices Trading Up 0.1 %

CDMO opened at $12.50 on Monday. The business has a fifty day moving average price of $12.49 and a 200 day moving average price of $11.95. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.30 and a quick ratio of 0.92. Avid Bioservices, Inc. has a 12 month low of $6.23 and a 12 month high of $12.51. The stock has a market capitalization of $799.18 million, a price-to-earnings ratio of -5.23 and a beta of 1.39.

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.