Yakira Capital Management Inc. Purchases New Holdings in Avid Bioservices, Inc. (NASDAQ:CDMO)

Yakira Capital Management Inc. purchased a new position in shares of Avid Bioservices, Inc. (NASDAQ:CDMO) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 209,582 shares of the biopharmaceutical company’s stock, valued at approximately $2,588,000. Yakira Capital Management Inc. owned about 0.33% of Avid Bioservices as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. R Squared Ltd acquired a new position in Avid Bioservices during the fourth quarter worth $42,000. KLP Kapitalforvaltning AS bought a new position in shares of Avid Bioservices in the 4th quarter valued at about $137,000. Raymond James Financial Inc. acquired a new position in shares of Avid Bioservices during the 4th quarter worth about $166,000. HighTower Advisors LLC raised its holdings in shares of Avid Bioservices by 23.3% in the 4th quarter. HighTower Advisors LLC now owns 13,861 shares of the biopharmaceutical company’s stock valued at $171,000 after purchasing an additional 2,620 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Avid Bioservices in the 4th quarter valued at about $179,000. Institutional investors own 97.16% of the company’s stock.

Avid Bioservices Trading Up 0.1 %

Avid Bioservices stock opened at $12.50 on Friday. 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 50-day simple moving average of $12.49 and a 200 day simple moving average of $11.94. The stock has a market capitalization of $799.18 million, a P/E ratio of -5.23 and a beta of 1.39. Avid Bioservices, Inc. has a 52 week low of $6.23 and a 52 week high of $12.51.

Insider Transactions at Avid Bioservices

In other Avid Bioservices news, insider Richard A. Richieri sold 2,283 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $12.37, for a total transaction of $28,240.71. Following the completion of the sale, the insider now owns 49,535 shares of the company’s stock, valued at $612,747.95. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.05% of the stock is currently owned by corporate insiders.

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.