Avid Bioservices (NASDAQ:CDMO) issued its earnings results on Monday, March 12th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.09), Bloomberg Earnings reports. Avid Bioservices had a negative return on equity of 57.49% and a negative net margin of 46.62%. The company had revenue of $6.82 million during the quarter, compared to analyst estimates of $8.95 million.
Shares of CDMO stock traded down $0.01 during mid-day trading on Wednesday, reaching $2.49. The company had a trading volume of 46,410 shares, compared to its average volume of 327,714. Avid Bioservices has a fifty-two week low of $2.24 and a fifty-two week high of $5.78. The company has a market capitalization of $141.66, a PE ratio of -3.09 and a beta of 2.43.
The company also recently announced a dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 19th will be paid a dividend of $0.6563 per share. The ex-dividend date of this dividend is Friday, March 16th.
In other news, Director Mark R. Bamforth bought 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average price of $2.25 per share, with a total value of $112,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.53% of the company’s stock.
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Avid Bioservices Company Profile
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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