Avid Bioservices Inc (NASDAQ:CDMO) Director Mark R. Bamforth bought 50,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were acquired at an average cost of $2.25 per share, with a total value of $112,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of Avid Bioservices Inc (NASDAQ:CDMO) opened at $2.49 on Thursday. The stock has a market capitalization of $114.49, a price-to-earnings ratio of -3.07 and a beta of 2.23. Avid Bioservices Inc has a one year low of $2.24 and a one year high of $5.78.

Avid Bioservices (NASDAQ:CDMO) last posted its earnings results on Monday, December 11th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.15). Avid Bioservices had a negative return on equity of 52.55% and a negative net margin of 39.23%. The business had revenue of $12.78 million for the quarter, compared to analyst estimates of $13.54 million. research analysts anticipate that Avid Bioservices Inc will post -0.57 earnings per share for the current fiscal year.

CDMO has been the subject of several recent analyst reports. Zacks Investment Research cut Avid Bioservices from a “hold” rating to a “sell” rating in a research note on Saturday, December 16th. ValuEngine cut Avid Bioservices from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Finally, Noble Financial reissued a “buy” rating on shares of Avid Bioservices in a research note on Tuesday, December 12th.

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About Avid Bioservices

Avid Bioservices, Inc, formerly Peregrine Pharmaceuticals, Inc, is a biopharmaceutical company. The Company is engaged in providing contract manufacturing services for third party customers on a fee-for-service basis while also supporting its internal drug development efforts. The Company delivers pharmaceutical products through its contract manufacturing business and through licensing its development-stage immunotherapy products.

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