One68 Global Capital LLC Acquires Shares of 27,000 Avid Bioservices, Inc. (NASDAQ:CDMO)

One68 Global Capital LLC acquired a new position in Avid Bioservices, Inc. (NASDAQ:CDMO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,000 shares of the biopharmaceutical company’s stock, valued at approximately $333,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Avid Bioservices during the 4th quarter worth approximately $42,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Avid Bioservices during the 4th quarter worth approximately $137,000. Tower Research Capital LLC TRC grew its stake in shares of Avid Bioservices by 72.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,739 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 5,352 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Avid Bioservices during the 4th quarter worth approximately $166,000. Finally, HighTower Advisors LLC grew its stake in shares of Avid Bioservices by 23.3% during the 4th quarter. HighTower Advisors LLC now owns 13,861 shares of the biopharmaceutical company’s stock worth $171,000 after purchasing an additional 2,620 shares during the period. Institutional investors and hedge funds own 97.16% of the company’s stock.

Avid Bioservices Trading Up 0.1 %

Shares of CDMO opened at $12.50 on Wednesday. Avid Bioservices, Inc. has a 52-week low of $6.53 and a 52-week high of $12.51. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 3.58. The firm’s fifty day moving average is $12.50 and its two-hundred day moving average is $12.14. The stock has a market cap of $799.18 million, a PE ratio of -5.23 and a beta of 1.39.

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.