Avid Bioservices Inc (NASDAQ: CDMO) is 57.23% higher on its value in year-to-date trading and has touched a low of $4.07 and a high of $12.54 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 $10.29 in the last trading session, with the day’s loss setting it -0.07%.
Currently trading at $10.22, the stock is -4.23% and 10.80% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.73 million and changing -0.68% at the moment leaves the stock 36.83% off its SMA200. CDMO registered -14.12% loss for a year compared to 6-month gain of 30.36%.
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The stock witnessed a -0.10% loss in the last 1 month and extending the period to 3 months gives it a 28.23%, and is -10.90% down 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 4.43% over the week and 5.08% over the month.
Avid Bioservices Inc (CDMO) has around 371 employees, a market worth around $649.79M and $139.91M in sales. Profit margin for the company is -100.60%. Distance from 52-week low is 151.07% and -18.50% from its 52-week high. The company has generated returns on investments over the last 12 months (-52.93%).
Avid Bioservices Inc quarterly earnings per share for the current quarter are estimated at -0.05 with sales reaching $40.76M over the same period.The EPS is expected to grow by 89.80% this year, but quarterly earnings will post 16.40% year-over-year.
244.0 institutions hold shares in Avid Bioservices Inc (CDMO), with institutional investors hold 105.32% of the company’s shares. The shares outstanding are 63.57M, and float is at 62.74M with Short Float at 20.52%. Institutions hold 104.16% of the Float.
The top institutional shareholder in the company is BLACKROCK INC. with over 5.11 million shares valued at $36.46 million. The investor’s holdings represent 8.0798 of the CDMO Shares outstanding. As of 2024-06-30, the second largest holder is MILLENNIUM MANAGEMENT LLC with 5.1 million shares valued at $36.41 million to account for 8.069 of the shares outstanding. The other top investors are VANGUARD GROUP INC which holds 3.8 million shares representing 6.0098 and valued at over $27.12 million, while 12 WEST CAPITAL MANAGEMENT LP holds 5.7688 of the shares totaling 3.65 million with a market value of $26.03 million.
Avid Bioservices Inc (CDMO) Insider Activity
The most recent transaction is an insider sale by Richieri Richard A., the company’s Chief Operations Officer. SEC filings show that Richieri Richard A. sold 530 shares of the company’s common stock on Jul 15 ’24 at a price of $8.36 per share for a total of $4431.0. Following the sale, the insider now owns 34229.0 shares.
Avid Bioservices Inc disclosed in a document filed with the SEC on Jul 15 ’24 that Kwietniak Matthew R. (Chief Commercial Officer) sold a total of 307 shares of the company’s common stock. The trade occurred on Jul 15 ’24 and was made at $8.36 per share for $2567.0. Following the transaction, the insider now directly holds 23410.0 shares of the CDMO stock.
Still, SEC filings show that on Jul 12 ’24, Kwietniak Matthew R. (Chief Commercial Officer) disposed off 119 shares at an average price of $8.05 for $958.0. The insider now directly holds 22,836 shares of Avid Bioservices Inc (CDMO).
