204 institutions hold shares in Avid Bioservices Inc. (CDMO), with 972.65k shares held by insiders accounting for 1.60% while institutional investors hold 72.92% of the company’s shares. The shares outstanding are 58.87M, and float is at 55.74M with Short Float at 6.67%. Institutions hold 71.76% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 3.85 million shares valued at $44.38 million. The investor’s holdings represent 6.32% of the CDMO Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 2.75 million shares valued at $31.76 million to account for 4.52% of the shares outstanding. The other top investors are Snyder Capital Management, LP which holds 2.51 million shares representing 4.12% and valued at over $28.94 million, while Iszo Capital LP holds 3.91% of the shares totaling 2.38 million with a market value of $27.43 million.
Avid Bioservices Inc. (NASDAQ: CDMO) is 89.17% higher on its value in year-to-date trading and has touched a low of $5.07 and a high of $22.13 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CDMO stock was last observed hovering at around $21.57 in the last trading session, with the day’s gains setting it 0.26% off its average median price target of $21.50 for the next 12 months. It is also 9.04% off the consensus price target high of $24.00 offered by 4 analysts, but current levels are -3.95% lower than the price target low of $21.00 for the same period.
Currently trading at $21.83, the stock is 11.60% and 17.07% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.33 million and changing 1.21% at the moment leaves the stock 82.62% off its SMA200. CDMO registered 259.05% gain for a year compared to 6-month gain of 188.76%. The firm has a 50-day simple moving average (SMA 50) of $18.64 and a 200-day simple moving average (SMA200) of $13.97.
The stock witnessed a 32.30% loss in the last 1 month and extending the period to 3 months gives it a 56.49%, and is 8.99% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.65% over the week and 4.83% over the month.
Avid Bioservices Inc. (CDMO) has around 222 employees, a market worth around $1.32B and $80.80M in sales. Fwd P/E is 119.29. Profit margin for the company is 11.50%. Distance from 52-week low is 330.15% and -1.36% from its 52-week high. The company has generated returns on investments over the last 12 months (-23.60%).
Avid Bioservices Inc. (CDMO) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Avid Bioservices Inc. (CDMO) is a “Buy”. 4 analysts offering their recommendations for the stock have an average rating of 1.70, where 0 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Avid Bioservices Inc. is expected to release its quarterly report on 07/20/2021 and quarterly earnings per share for the current quarter are estimated at $0 with sales reaching $21.6M over the same period.The EPS is expected to shrink by -54.60% this year, but quarterly earnings will post 50.50% year-over-year. Quarterly sales are estimated to grow 72.10% in year-over-year returns.
Avid Bioservices Inc. (CDMO) Insider Activity
A total of 4 insider transactions have happened at Avid Bioservices Inc. (CDMO) in the last six months, with sales accounting for 2 and purchases happening 2 times. The most recent transaction is an insider purchase by Bamforth Mark R, the company’s Director. SEC filings show that Bamforth Mark R bought 126,000 shares of the company’s common stock on Mar 17 at a price of $18.18 per share for a total of $2.29 million. Following the purchase, the insider now owns 0.13 million shares.
Avid Bioservices Inc. disclosed in a document filed with the SEC on Mar 17 that Bamforth Mark R (Director) sold a total of 26,000 shares of the company’s common stock. The trade occurred on Mar 17 and was made at $18.18 per share for $0.47 million. Following the transaction, the insider now directly holds 0.0 shares of the CDMO stock.
Still, SEC filings show that on Mar 17, Bamforth Mark R (Director) disposed off 100,000 shares at an average price of $18.18 for $1.82 million. The insider now directly holds 0 shares of Avid Bioservices Inc. (CDMO).