Avid Bioservices (NASDAQ:CDMO) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Avid Bioservices, Inc. (NASDAQ:CDMOGet Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.45 and traded as high as $12.51. Avid Bioservices shares last traded at $12.50, with a volume of 3,067,700 shares trading hands.

Avid Bioservices Trading Up 0.1%

The firm has a market cap of $799.18 million, a P/E ratio of -5.23 and a beta of 1.39. The company’s 50 day moving average is $12.50 and its two-hundred day moving average is $12.45. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.30 and a quick ratio of 0.92.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FIL Ltd bought a new position in Avid Bioservices in the 4th quarter valued at $31,598,000. Alpine Associates Management Inc. acquired a new stake in shares of Avid Bioservices in the fourth quarter valued at $24,034,000. Nexpoint Asset Management L.P. acquired a new stake in shares of Avid Bioservices in the fourth quarter valued at $22,902,000. Water Island Capital LLC bought a new position in shares of Avid Bioservices in the fourth quarter valued at about $19,715,000. Finally, AQR Arbitrage LLC acquired a new position in Avid Bioservices during the 4th quarter worth about $19,386,000. 97.16% of the stock is owned by institutional investors.

Avid Bioservices Company Profile

(Get Free Report)

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.

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