McGuire Investment Group LLC grew its stake in shares of Avid Bioservices, Inc. (NASDAQ:CDMO) by 25.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 59,260 shares of the biopharmaceutical company’s stock after acquiring an additional 12,129 shares during the period. McGuire Investment Group LLC’s holdings in Avid Bioservices were worth $684,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CDMO. Cubist Systematic Strategies LLC bought a new position in shares of Avid Bioservices in the third quarter valued at approximately $229,000. Massachusetts Financial Services Co. MA bought a new stake in Avid Bioservices during the 3rd quarter worth approximately $231,000. Schonfeld Strategic Advisors LLC purchased a new stake in Avid Bioservices in the 2nd quarter worth approximately $259,000. Two Sigma Advisers LP boosted its holdings in Avid Bioservices by 22.5% in the 2nd quarter. Two Sigma Advisers LP now owns 45,851 shares of the biopharmaceutical company’s stock valued at $301,000 after purchasing an additional 8,414 shares during the period. Finally, GSA Capital Partners LLP boosted its holdings in Avid Bioservices by 48.2% in the 3rd quarter. GSA Capital Partners LLP now owns 42,391 shares of the biopharmaceutical company’s stock valued at $323,000 after purchasing an additional 13,782 shares during the period. Hedge funds and other institutional investors own 58.16% of the company’s stock.

NASDAQ:CDMO traded up $0.56 during trading hours on Wednesday, reaching $13.59. The company’s stock had a trading volume of 384,958 shares, compared to its average volume of 517,432. The firm has a market capitalization of $770.91 million, a price-to-earnings ratio of -138.00 and a beta of 2.36. The firm has a 50-day simple moving average of $11.08 and a 200-day simple moving average of $8.56. Avid Bioservices, Inc. has a 1 year low of $3.02 and a 1 year high of $13.89.

Avid Bioservices (NASDAQ:CDMO) last announced its quarterly earnings data on Tuesday, December 1st. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.07. Avid Bioservices had a return on equity of 0.31% and a net margin of 0.20%. Research analysts expect that Avid Bioservices, Inc. will post 0.02 EPS for the current year.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Avid Bioservices from a “sell” rating to a “hold” rating in a research report on Monday, January 4th. BidaskClub raised Avid Bioservices from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 8th. KeyCorp assumed coverage on Avid Bioservices in a report on Monday, November 9th. They set an “overweight” rating and a $12.00 price objective for the company. Finally, ValuEngine cut shares of Avid Bioservices from a “buy” rating to a “hold” rating in a research report on Tuesday, December 1st. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $9.75.

Avid Bioservices Company Profile

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. It produces monoclonal antibodies and recombinant proteins; and offers services, including CGMP clinical and commercial drug substance manufacturing, purification, 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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