Holdings of Avid Bioservices Inc. (CDMO) are aligned with the stars

Avid Bioservices Inc. (NASDAQ: CDMO) stock fell -1.70% on Friday to $10.41 against a previous-day closing price of $10.59. With 1.99 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.62 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $10.85 whereas the lowest price it dropped to was $10.33. The 52-week range on CDMO shows that it touched its highest point at $21.05 and its lowest point at $10.08 during that stretch. It currently has a 1-year price target of $19.25. Beta for the stock currently stands at 1.68.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CDMO was down-trending over the past week, with a drop of -3.83%, but this was down by -16.65% over a month. Three-month performance dropped to -38.69% while six-month performance fell -42.77%. The stock lost -43.94% in the past year, while it has lost -24.40% so far this year. A look at the trailing 12-month EPS for CDMO yields -0.05 with Next year EPS estimates of 0.09. For the next quarter, that number is -0.06. This implies an EPS growth rate of -99.50% for this year and 181.80% for next year. EPS is expected to grow by 15.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 15.10%.

Float and Shares Shorts:

At present, 62.84 million CDMO shares are outstanding with a float of 62.54 million shares on hand for trading. On Aug 30, 2023, short shares totaled 5.21 million, which was 8.25% higher than short shares on Jul 30, 2023. In addition to Mr. Nicholas Stewart Green B.Sc., MBA as the firm’s Pres, CEO & Director, Mr. Daniel R. Hart serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 108.12% of CDMO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 55.26% of CDMO, in contrast to 49.18% held by mutual funds. Shares owned by individuals account for 1.08%. As the largest shareholder in CDMO with 14.52% of the stake, BlackRock Fund Advisors holds 9,105,386 shares worth 9,105,386. A second-largest stockholder of CDMO, The Vanguard Group, Inc., holds 4,242,321 shares, controlling over 6.76% of the firm’s shares. T. Rowe Price Investment Manageme is the third largest shareholder in CDMO, holding 3,915,867 shares or 6.24% stake. With a 7.05% stake in CDMO, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 4,421,305 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.10% of CDMO stock, is the second-largest Mutual Fund holder. It holds 1,945,642 shares valued at 22.96 million. T Rowe Price Small Cap Stock Fund holds 2.85% of the stake in CDMO, owning 1,786,831 shares worth 21.08 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CDMO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CDMO analysts setting a high price target of $22.00 and a low target of $15.00, the average target price over the next 12 months is $19.25. Based on these targets, CDMO could surge 111.34% to reach the target high and rise by 44.09% to reach the target low. Reaching the average price target will result in a growth of 84.92% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded CDMO stock several times over the past three months with 21 Buys and 18 Sells. In these transactions, 199,284 shares were bought while 100,174 shares were sold. The number of buy transactions has increased to 63 while that of sell transactions has risen to 46 over the past year. The total number of shares bought during that period was 361,114 while 224,874 shares were sold.

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