Avid Bioservices, Inc. (NASDAQ:CDMO) Stock Holdings Lessened by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP trimmed its holdings in Avid Bioservices, Inc. (NASDAQ:CDMO) by 75.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 79,755 shares of the biopharmaceutical company’s stock after selling 239,013 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Avid Bioservices were worth $985,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Jennison Associates LLC bought a new position in shares of Avid Bioservices during the fourth quarter valued at $13,796,000. Tokio Marine Asset Management Co. Ltd. bought a new position in Avid Bioservices during the 4th quarter valued at about $7,320,000. JPMorgan Chase & Co. boosted its position in Avid Bioservices by 283.0% in the third quarter. JPMorgan Chase & Co. now owns 108,684 shares of the biopharmaceutical company’s stock valued at $1,237,000 after buying an additional 80,308 shares in the last quarter. Franklin Resources Inc. grew its stake in Avid Bioservices by 11.5% during the third quarter. Franklin Resources Inc. now owns 60,780 shares of the biopharmaceutical company’s stock worth $692,000 after buying an additional 6,259 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Avid Bioservices during the fourth quarter worth about $210,000. 97.16% of the stock is owned by institutional investors.

Avid Bioservices Price Performance

Avid Bioservices stock opened at $12.50 on Friday. The business’s fifty day moving average is $12.50 and its two-hundred day moving average is $12.32. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.92 and a current ratio of 1.30. The firm has a market cap of $799.18 million, a P/E ratio of -5.23 and a beta of 1.39. Avid Bioservices, Inc. has a 52 week low of $6.53 and a 52 week high of $12.51.

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.