Avid Bioservices Inc (CDMO) Director Mark R. Bamforth Acquires 50,000 Shares

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

Shares of Avid Bioservices Inc (NASDAQ:CDMO) opened at $2.53 on Wednesday. Avid Bioservices Inc has a 1-year low of $2.24 and a 1-year high of $5.78.

Avid Bioservices (NASDAQ:CDMO) last released its quarterly earnings data on Monday, December 11th. The biopharmaceutical company reported ($0.27) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.15). The firm had revenue of $12.78 million for the quarter, compared to the consensus estimate of $13.54 million. Avid Bioservices had a negative net margin of 39.23% and a negative return on equity of 52.55%. equities research analysts forecast that Avid Bioservices Inc will post -0.57 EPS for the current year.

Several equities analysts have issued reports on the company. Noble Financial reissued a “buy” rating on shares of Avid Bioservices in a research note on Friday, January 5th. Zacks Investment Research raised Avid Bioservices from a “sell” rating to a “hold” rating in a research note on Saturday, November 18th. Finally, ValuEngine lowered Avid Bioservices from a “hold” rating to a “sell” rating in a research note on Friday, December 1st.

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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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