65,000 Shares in Avid Bioservices, Inc. (NASDAQ:CDMO) Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ acquired a new position in Avid Bioservices, Inc. (NASDAQ:CDMO) in the fourth quarter, Holdings Channel.com reports. The fund acquired 65,000 shares of the biopharmaceutical company’s stock, valued at approximately $801,000.

A number of other large investors have also modified their holdings of CDMO. Quest Partners LLC purchased a new stake in Avid Bioservices in the third quarter valued at approximately $38,000. R Squared Ltd acquired a new position in shares of Avid Bioservices during the 4th quarter worth approximately $42,000. Raymond James Financial Inc. purchased a new position in Avid Bioservices during the fourth quarter valued at $166,000. HighTower Advisors LLC lifted its stake in Avid Bioservices by 23.3% in the 4th quarter. HighTower Advisors LLC now owns 13,861 shares of the biopharmaceutical company’s stock valued at $171,000 after buying an additional 2,620 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in shares of Avid Bioservices in the fourth quarter valued at approximately $195,000. Hedge funds and other institutional investors own 97.16% of the company’s stock.

Analyst Ratings Changes

Separately, Stephens lowered Avid Bioservices from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, Avid Bioservices presently has a consensus rating of “Hold” and a consensus target price of $12.25.

Insider Activity

In related news, insider Richard A. Richieri sold 2,283 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $612,747.95. This represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas Stewart Green sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $12.31, for a total transaction of $923,250.00. Following the transaction, the chief executive officer now directly owns 151,653 shares of the company’s stock, valued at approximately $1,866,848.43. This trade represents a 33.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 349,850 shares of company stock valued at $4,288,259. Insiders own 3.05% of the company’s stock.

Avid Bioservices Stock Up 0.1 %

Shares of NASDAQ:CDMO opened at $12.50 on Tuesday. The firm has a 50 day simple moving average of $12.47 and a 200-day simple moving average of $11.73. The company has a market capitalization of $799.18 million, a PE ratio of -5.23 and a beta of 1.39. Avid Bioservices, Inc. has a twelve month low of $6.14 and a twelve month high of $12.51. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 3.58.

Avid Bioservices Company 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.