294,800 Shares in Avid Bioservices, Inc. (NASDAQ:CDMO) Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Avid Bioservices, Inc. (NASDAQ:CDMOGet Rating) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 294,800 shares of the biopharmaceutical company’s stock, valued at approximately $4,499,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.48% of Avid Bioservices as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Avid Bioservices during the 2nd quarter worth approximately $262,000. Envestnet Asset Management Inc. grew its stake in shares of Avid Bioservices by 259.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 53,738 shares of the biopharmaceutical company’s stock worth $1,095,000 after acquiring an additional 38,786 shares in the last quarter. Parkman Healthcare Partners LLC grew its stake in shares of Avid Bioservices by 40.5% during the 1st quarter. Parkman Healthcare Partners LLC now owns 407,458 shares of the biopharmaceutical company’s stock worth $8,300,000 after acquiring an additional 117,458 shares in the last quarter. Redwood Investments LLC grew its stake in shares of Avid Bioservices by 17.4% during the 2nd quarter. Redwood Investments LLC now owns 886,948 shares of the biopharmaceutical company’s stock worth $13,535,000 after acquiring an additional 131,216 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Avid Bioservices by 34.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 35,445 shares of the biopharmaceutical company’s stock worth $551,000 after acquiring an additional 9,103 shares in the last quarter. 98.80% of the stock is owned by institutional investors.

Avid Bioservices Price Performance

Shares of CDMO opened at $14.31 on Monday. The stock has a market capitalization of $889.61 million, a P/E ratio of 8.08 and a beta of 1.81. Avid Bioservices, Inc. has a twelve month low of $11.30 and a twelve month high of $34.02. The company has a 50 day moving average of $16.83 and a 200-day moving average of $16.27. The company has a quick ratio of 1.61, a current ratio of 1.94 and a debt-to-equity ratio of 0.79.

Avid Bioservices (NASDAQ:CDMOGet Rating) last released its quarterly earnings data on Tuesday, September 6th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $36.69 million during the quarter, compared to analyst estimates of $34.00 million. Avid Bioservices had a net margin of 97.93% and a return on equity of 10.03%. As a group, equities research analysts forecast that Avid Bioservices, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity

In other news, CEO Nicholas Stewart Green sold 7,493 shares of the stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $17.90, for a total value of $134,124.70. Following the completion of the sale, the chief executive officer now owns 76,615 shares of the company’s stock, valued at approximately $1,371,408.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Avid Bioservices news, Director Richard B. Hancock sold 5,000 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $18.43, for a total transaction of $92,150.00. Following the transaction, the director now owns 36,881 shares in the company, valued at approximately $679,716.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas Stewart Green sold 7,493 shares of the stock in a transaction on Monday, October 10th. The stock was sold at an average price of $17.90, for a total value of $134,124.70. Following the transaction, the chief executive officer now owns 76,615 shares in the company, valued at approximately $1,371,408.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,755 shares of company stock valued at $248,865. 1.86% of the stock is owned by insiders.

Avid Bioservices Profile

(Get Rating)

Avid Bioservices, Inc, a contract development and manufacturing organization, provides process development and current good manufacturing practices (CGMP) clinical and commercial manufacturing services focused on biopharmaceutical drug substances derived from mammalian cell culture. The company produces monoclonal antibodies and recombinant proteins; and offers services, including CGMP clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing, and regulatory submission and support.

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Institutional Ownership by Quarter for Avid Bioservices (NASDAQ:CDMO)

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