McGuire Investment Group LLC Has $145,000 Stock Holdings in Avid Bioservices, Inc. (NASDAQ:CDMO)

McGuire Investment Group LLC cut its position in Avid Bioservices, Inc. (NASDAQ:CDMO) by 64.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,728 shares of the biopharmaceutical company’s stock after selling 21,106 shares during the period. McGuire Investment Group LLC’s holdings in Avid Bioservices were worth $145,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Quest Partners LLC acquired a new position in Avid Bioservices during the 3rd quarter valued at about $38,000. Point72 DIFC Ltd acquired a new position in Avid Bioservices during the 2nd quarter valued at about $57,000. Glenmede Trust Co. NA boosted its stake in Avid Bioservices by 37.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,498 shares of the biopharmaceutical company’s stock valued at $199,000 after purchasing an additional 4,812 shares during the last quarter. Creative Planning boosted its stake in Avid Bioservices by 49.4% during the 3rd quarter. Creative Planning now owns 20,178 shares of the biopharmaceutical company’s stock valued at $230,000 after purchasing an additional 6,672 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in Avid Bioservices during the 3rd quarter valued at about $244,000. 97.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $12.50 price target (up previously from $12.00) on shares of Avid Bioservices in a research note on Thursday, November 7th. Stephens downgraded Avid Bioservices from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 4th. Craig Hallum cut shares of Avid Bioservices from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, William Blair reissued a “market perform” rating on shares of Avid Bioservices in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.25.

Avid Bioservices Stock Performance

Avid Bioservices stock opened at $12.42 on Friday. Avid Bioservices, Inc. has a 52 week low of $5.90 and a 52 week high of $12.48. The company’s 50 day moving average price is $12.32 and its two-hundred day moving average price is $11.06. 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 (NASDAQ:CDMO) last posted its earnings results on Tuesday, December 10th. The biopharmaceutical company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.14). Avid Bioservices had a negative return on equity of 33.18% and a negative net margin of 101.07%. On average, research analysts predict that Avid Bioservices, Inc. will post -0.46 EPS for the current year.

Insider Buying and Selling

In other Avid Bioservices news, insider Richard A. Richieri sold 3,843 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $12.22, for a total transaction of $46,961.46. Following the sale, the insider now owns 44,556 shares of the company’s stock, valued at $544,474.32. The trade was a 7.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nicholas Stewart Green sold 145,911 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $12.22, for a total transaction of $1,783,032.42. Following the sale, the chief executive officer now directly owns 157,620 shares in the company, valued at $1,926,116.40. The trade was a 48.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 349,850 shares of company stock valued at $4,288,259. 3.05% of the stock is owned by company insiders.

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.