Russell Investments Group Ltd. Sells 355,253 Shares of Avid Bioservices, Inc. (NASDAQ:CDMO)

Russell Investments Group Ltd. trimmed its holdings in shares of Avid Bioservices, Inc. (NASDAQ:CDMO) by 98.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,370 shares of the biopharmaceutical company’s stock after selling 355,253 shares during the quarter. Russell Investments Group Ltd.’s holdings in Avid Bioservices were worth $91,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jennison Associates LLC bought a new position in Avid Bioservices in the 4th quarter valued at $13,796,000. Tokio Marine Asset Management Co. Ltd. bought a new position in Avid Bioservices during the fourth quarter valued at about $7,320,000. JPMorgan Chase & Co. grew its position in Avid Bioservices by 283.0% during the third quarter. JPMorgan Chase & Co. now owns 108,684 shares of the biopharmaceutical company’s stock valued at $1,237,000 after buying an additional 80,308 shares during the period. Barclays PLC increased its holdings in Avid Bioservices by 98.1% during the third quarter. Barclays PLC now owns 134,598 shares of the biopharmaceutical company’s stock worth $1,532,000 after buying an additional 66,653 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Avid Bioservices by 11.5% in the third quarter. Franklin Resources Inc. now owns 60,780 shares of the biopharmaceutical company’s stock worth $692,000 after acquiring an additional 6,259 shares during the period. 97.16% of the stock is owned by hedge funds and other institutional investors.

Avid Bioservices Stock Up 0.1 %

Avid Bioservices stock opened at $12.50 on Friday. The firm has a 50 day moving average price of $12.50 and a 200-day moving average price of $12.11. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 3.58. Avid Bioservices, Inc. has a twelve month low of $6.53 and a twelve month high of $12.51. The company has a market capitalization of $799.18 million, a P/E ratio of -5.23 and a beta of 1.39.

About Avid Bioservices

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.