Avid Bioservices Inc (NASDAQ: CDMO) stock suffered a major decline of -12.3% on 12/8/23. The shares closed at $4.64. Moreover, trading volume in this decline was exceptionally high at 531% of normal. Relative to the market the stock has been extremely weak over the last nine months and has declined -8.8% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be in line with the cost of capital, CDMO is expected to continue to be Value Creation neutral.
Avid Bioservices has a current Value Trend Rating of F (Lowest Rating). This rating combines highly consistent signals from two proprietary PTR measures of a stock’s attractiveness. Avid Bioservices has a very low Appreciation Score of 14 and a very low Power Rating of 0, and the Lowest Value Trend Rating results.
Rating Review
In light of this highly negative price change we are reviewing our current Overall Rating of F. This review will be completed in the next several days.
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