Stock News Summary: Avid Bioservices (NASDAQ:CDMO)

Avid Bioservices (NASDAQ:CDMO) stock observed trading -20.02% off 52-week high price. On the other end, the stock has been noted 100.30% away from low price over the last 52-weeks. The stock disclosed a move of 8.59% away from 50 day moving average and 42.19% away from 200 day moving average. Moving closer, we can see that shares have been trading 1.63% off 20-day moving average. It has market cap of $376.85M.

 On Sept. 04, 2019, Avid Bioservices (NASDAQ:CDMO) a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality services to biotechnology and pharmaceutical companies,  announced that its Board of Directors has reported a quarterly cash dividend payment on the Company’s 10.50% Series E Convertible Preferred Stock (the Series E Preferred Stock).

The quarterly dividend on the Series E Preferred Stock is payable on October 1, 2019 to holders of record at the close of business on September 16, 2019.

The quarterly dividend payment on the Series E Preferred Stock will be $0.65625 per share, which is equivalent to an annualized 10.50% per share, based on the $25.00 per share stated liquidation preference, accruing from July 1, 2019 through September 30, 2019. The Series E Preferred Stock is listed on the NASDAQ Capital Market and trades under the ticker symbol CDMOP.

About Avid Bioservices

Avid Bioservices is a dedicated contract development and manufacturing organization (CDMO) focused on development and CGMP manufacturing of biopharmaceutical products derived from mammalian cell culture. The company provides a comprehensive range of process development, high quality CGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. With 25 years of experience producing monoclonal antibodies and recombinant proteins in batch, fed-batch and perfusion modes, Avid’s services include CGMP clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory strategy, submission and support. The company also provides a variety of process development activities, including cell line development and optimization, cell culture and feed optimization, analytical methods development and product characterization.

 The USA based company Avid Bioservices moved with change of -1.89% to $6.75 with the total traded volume of 174760 shares in recent session versus to an average volume of 451.3K. The stock was observed in the 5 days activity at 2.43%. The one month performance of stock was 7.14%. CDMO’s shares are at 58.82% for the quarter and driving a -7.79% return over the course of the past year and is now at 64.63% since this point in 2018.  Right now the stock beta is 2.81. The average volatility for the week and month was at 4.40% and 4.70% respectively. There are 55.83M shares outstanding and 49.71M shares are floated in market.

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