Should Avid Bioservices Inc. (NASDAQ: CDMO) Revive After A -175.64% Drop From Highs? – Marketing Sentinel
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Should Avid Bioservices Inc. (NASDAQ: CDMO) Revive After A -175.64% Drop From Highs?

During the last session, Avid Bioservices Inc. (NASDAQ:CDMO)’s traded shares were 0.62 million, with the beta value of the company hitting 2.28. At the end of the trading day, the stock’s price was $12.52, reflecting an intraday gain of 4.16% or $0.5. The 52-week high for the CDMO share is $34.51, that puts it down -175.64 from that peak though still a striking 9.74% gain since the share price plummeted to a 52-week low of $11.30. The company’s market capitalization is $800.03M, and the average trade volume was 621.64K shares over the past three months.

Avid Bioservices Inc. (CDMO) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.00. CDMO has a Sell rating from 0 analyst(s) out of 4 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.04.

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Avid Bioservices Inc. (NASDAQ:CDMO) trade information

Avid Bioservices Inc. (CDMO) registered a 4.16% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 4.16% in intraday trading to $12.52 this Friday, 05/13/22, hitting a weekly high. The stock’s 5-day price performance is -0.87%, and it has moved by -33.05% in 30 days. Based on these gigs, the overall price performance for the year is -37.68%.

The consensus price target of analysts on Wall Street is $30.00, which implies an increase of 58.27% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $28.00 and $32.00 respectively. As a result, CDMO is trading at a discount of -155.59% off the target high and -123.64% off the low.

Avid Bioservices Inc. (CDMO) estimates and forecasts

Statistics show that Avid Bioservices Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Avid Bioservices Inc. (CDMO) shares have gone down -62.54% during the last six months, with a year-to-date growth rate more than the industry average at 200.00% against -0.10. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 300.00% this quarter and then jump 275.00% in the quarter after that. In the rating firms’ projections, revenue will increase 22.80% compared to the previous financial year.

Revenue for the current quarter is expected to be $26.59 million as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $33.32 million by the end of Apr 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 31.60%. While earnings are projected to return 120.80% in 2022, the next five years will return 15.00% per annum.

CDMO Dividends

Avid Bioservices Inc. is due to release its next quarterly earnings between March 07 and March 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Avid Bioservices Inc. (NASDAQ:CDMO)’s Major holders

Avid Bioservices Inc. insiders own 1.32% of total outstanding shares while institutional holders control 105.83%, with the float percentage being 107.25%. Blackrock Inc. is the largest shareholder of the company, while 289 institutions own stock in it. As of Dec 30, 2021, the company held over 9.67 million shares (or 15.70% of all shares), a total value of $282.16 million in shares.

The next largest institutional holding, with 8.23 million shares, is of FMR, LLC’s that is approximately 13.36% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $240.05 million.

Also, the Mutual Funds coming in first place with the largest holdings of Avid Bioservices Inc. (CDMO) shares are iShares Core S&P Smallcap ETF and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF. Data provided on Dec 30, 2021 indicates that iShares Core S&P Smallcap ETF owns about 4.3 million shares. This amounts to just over 6.99 percent of the company’s overall shares, with a $125.56 million market value. The same data shows that the other fund manager holds slightly less at 1.88 million, or about 3.05% of the stock, which is worth about $54.74 million.

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