In last trading session, Avid Bioservices Inc (NASDAQ:CDMO) saw 0.62 million shares changing hands with its beta currently measuring 1.38. Company’s recent per share price level of $11.01 trading at $0.33 or 3.09% at ring of the bell on the day assigns it a market valuation of $700.02M. That closing price of CDMO’s stock is at a discount of -17.08% from its 52-week high price of $12.89 and is indicating a premium of 63.03% from its 52-week low price of $4.07. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.83 million shares which gives us an average trading volume of 1.06 million if we extend that period to 3-months.
For Avid Bioservices Inc (CDMO), analysts’ consensus is at an average recommendation of Buy while assigning it a mean rating of 1.40. Splitting up the data highlights that, out of 3 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 3 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -0.05 in the current quarter.
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Avid Bioservices Inc (NASDAQ:CDMO) trade information
Upright in the green during last session for gaining 3.09%, in the last five days CDMO remained trading in the green while hitting it’s week-highest on Friday, 08/16/24 when the stock touched $11.01 price level, adding 0.27% to its value on the day. Avid Bioservices Inc’s shares saw a change of 69.38% in year-to-date performance and have moved 4.56% in past 5-day. Avid Bioservices Inc (NASDAQ:CDMO) showed a performance of 15.89% in past 30-days. Number of shares sold short was 13.93 million shares which calculate 10.85 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 8 to the stock, which implies a fall of -37.62% to its current value. Analysts have been projecting 8 as a low price target for the stock while placing it at a high target of 8. It follows that stock’s current price would jump 27.34% in reaching the projected high whereas dropping to the targeted low would mean a gain of 27.34% for stock’s current value.
Avid Bioservices Inc (CDMO) estimates and forecasts
Statistics highlight that Avid Bioservices Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company added 42.99% of value to its shares in past 6 months, showing an annual growth rate of 57.14% while that of industry is 17.60. Apart from that, the company came raising its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 16.40% from the last financial year’s standing.
5 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 40.76M for the same. And 5 analysts are in estimates of company making revenue of 33.92M in the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -66.86% during past 5 years. In 2024, company’s earnings growth rate is likely to be around 89.80% while estimates for its earnings growth in next 5 years are of 15.00%.
Avid Bioservices Inc (NASDAQ:CDMO)’s Major holders
Insiders are in possession of 1.10% of company’s total shares while institution are holding 104.68 percent of that, with stock having share float percentage of 105.85%. Investors also watch the number of corporate investors in a company very closely, which is 104.68% institutions for Avid Bioservices Inc that are currently holding shares of the company. STATE STREET CORP is the top institutional holder at CDMO for having 5.85 million shares of worth $39.18 million. And as of 2024-03-31, it was holding 9.2536 of the company’s outstanding shares.
The second largest institutional holder is BLACKROCK INC., which was holding about 5.18 million shares on 2024-03-31. The number of shares represents firm’s hold over 8.1896 of outstanding shares, having a total worth of $34.68 million.
On the other hand, Vanguard Total Stock Market Index Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF are the top two Mutual Funds which own company’s shares. As of Mar 31, 2024 , the former fund manager was holding 1.95 shares of worth $21.46 million or 3.06% of the total outstanding shares. The later fund manager was in possession of 1.85 shares on Jun 30, 2024 , making its stake of worth around $20.38 million in the company or a holder of 2.91% of company’s stock.
