Stifel Financial Corp Has $139,000 Holdings in Avid Bioservices Inc (CDMO)

Stifel Financial Corp decreased its holdings in Avid Bioservices Inc (NASDAQ:CDMO) by 79.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,976 shares of the biopharmaceutical company’s stock after selling 143,243 shares during the quarter. Stifel Financial Corp’s holdings in Avid Bioservices were worth $139,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CDMO. Sargent Investment Group LLC bought a new position in Avid Bioservices during the fourth quarter valued at about $2,274,000. Bank of New York Mellon Corp boosted its position in Avid Bioservices by 10.0% during the fourth quarter. Bank of New York Mellon Corp now owns 170,342 shares of the biopharmaceutical company’s stock worth $699,000 after purchasing an additional 15,459 shares during the period. New York State Common Retirement Fund boosted its position in Avid Bioservices by 38.9% during the fourth quarter. New York State Common Retirement Fund now owns 41,800 shares of the biopharmaceutical company’s stock worth $171,000 after purchasing an additional 11,700 shares during the period. AltraVue Capital LLC bought a new position in Avid Bioservices during the fourth quarter worth about $5,411,000. Finally, M&T Bank Corp boosted its position in Avid Bioservices by 18.8% during the fourth quarter. M&T Bank Corp now owns 42,059 shares of the biopharmaceutical company’s stock worth $172,000 after purchasing an additional 6,659 shares during the period. Institutional investors and hedge funds own 40.81% of the company’s stock.

Separately, Zacks Investment Research lowered shares of Avid Bioservices from a “buy” rating to a “hold” rating in a research report on Thursday, February 21st.

Shares of Avid Bioservices stock opened at $4.33 on Monday. Avid Bioservices Inc has a 12-month low of $3.05 and a 12-month high of $8.44. The stock has a market capitalization of $242.80 million, a PE ratio of -8.66 and a beta of 2.62.

Avid Bioservices (NASDAQ:CDMO) last announced its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. Avid Bioservices had a negative net margin of 3.52% and a negative return on equity of 20.74%. The firm had revenue of $13.78 million for the quarter, compared to the consensus estimate of $13.43 million. As a group, research analysts predict that Avid Bioservices Inc will post -0.18 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This news story was originally posted by Baseball Daily News and is the property of of Baseball Daily News. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international copyright laws. The correct version of this news story can be viewed at https://www.baseballdailydigest.com/news/2019/04/22/stifel-financial-corp-has-139000-holdings-in-avid-bioservices-inc-cdmo.html.

About Avid Bioservices

Avid Bioservices, Inc, a biologics contract development and manufacturing company, focuses on the development and current Good Manufacturing Practices (cGMP) manufacture of biopharmaceutical products derived from mammalian cell culture. It provides a range of process development, cGMP clinical, and commercial manufacturing services for the biotechnology and biopharmaceutical industries.

Further Reading: Using other technical indicators with support levels

Want to see what other hedge funds are holding CDMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avid Bioservices Inc (NASDAQ:CDMO).

Institutional Ownership by Quarter for Avid Bioservices (NASDAQ:CDMO)

Receive News & Ratings for Avid Bioservices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avid Bioservices and related companies with MarketBeat.com's FREE daily email newsletter.