Avid Bioservices, Inc. (NASDAQ:CDMO) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC lowered its position in shares of Avid Bioservices, Inc. (NASDAQ:CDMO) by 8.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,985 shares of the biopharmaceutical company’s stock after selling 9,460 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.16% of Avid Bioservices worth $1,297,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CDMO. JPMorgan Chase & Co. raised its holdings in shares of Avid Bioservices by 283.0% during the third quarter. JPMorgan Chase & Co. now owns 108,684 shares of the biopharmaceutical company’s stock valued at $1,237,000 after acquiring an additional 80,308 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Avid Bioservices by 27.2% during the fourth quarter. SG Americas Securities LLC now owns 31,556 shares of the biopharmaceutical company’s stock valued at $390,000 after acquiring an additional 6,739 shares during the last quarter. R Squared Ltd acquired a new position in shares of Avid Bioservices during the fourth quarter valued at approximately $42,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Avid Bioservices during the fourth quarter valued at approximately $7,320,000. Finally, Jennison Associates LLC acquired a new position in shares of Avid Bioservices during the fourth quarter valued at approximately $13,796,000. Institutional investors and hedge funds own 97.16% of the company’s stock.

Avid Bioservices Price Performance

NASDAQ:CDMO opened at $12.50 on Thursday. Avid Bioservices, Inc. has a one year low of $6.53 and a one year high of $12.51. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.92 and a current ratio of 1.30. The stock has a market cap of $799.18 million, a PE ratio of -5.23 and a beta of 1.39. The stock has a 50 day moving average price of $12.50 and a 200 day moving average price of $12.38.

About Avid Bioservices

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.