Avid Bioservices (NASDAQ:CDMO) was upgraded by investment analysts at TheStreet from a “d” rating to a “c-” rating in a research report issued to clients and investors on Tuesday, TheStreetRatingsTable reports.
CDMO has been the subject of several other reports. Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a report on Tuesday. Janney Montgomery Scott downgraded Unitil from a “buy” rating to a “neutral” rating and set a $59.79 target price for the company. in a research note on Friday, June 28th. HC Wainwright set a $73.00 target price on Uniqure and gave the company a “buy” rating in a research note on Monday. Finally, ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $8.58.
Shares of NASDAQ CDMO traded down $0.02 during midday trading on Tuesday, reaching $6.05. 647,017 shares of the company’s stock were exchanged, compared to its average volume of 337,724. Avid Bioservices has a 52-week low of $3.37 and a 52-week high of $8.44. The company has a market capitalization of $340.76 million, a PE ratio of -35.59 and a beta of 2.87. The stock’s fifty day moving average price is $4.46.
A number of hedge funds have recently modified their holdings of the business. Valeo Financial Advisors LLC acquired a new position in shares of Avid Bioservices during the first quarter worth approximately $25,000. Harborview Advisors LLC acquired a new position in shares of Avid Bioservices during the first quarter worth approximately $52,000. D. E. Shaw & Co. Inc. boosted its position in shares of Avid Bioservices by 44.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 14,493 shares of the biopharmaceutical company’s stock worth $59,000 after buying an additional 4,444 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Avid Bioservices by 42.6% during the first quarter. Meeder Asset Management Inc. now owns 17,243 shares of the biopharmaceutical company’s stock worth $73,000 after buying an additional 5,152 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Avid Bioservices by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,436 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 14,398 shares during the period. Institutional investors own 38.62% of the company’s stock.
Avid Bioservices Company Profile
Avid Bioservices, Inc, a biologics contract development and manufacturing company, focuses on the development and current Good Manufacturing Practices (cGMP) manufacture of biopharmaceutical products derived from mammalian cell culture. It provides a range of process development, cGMP clinical, and commercial manufacturing services for the biotechnology and biopharmaceutical industries.
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