Avid Bioservices Inc (NASDAQ: CDMO) stock suffered a major decline of -30.6% on 3/7/24. The shares closed at $6.10. Moreover, this decline was accompanied by exceptionally high trading volume at 1183% of normal. The stock has been extremely weak relative to the market over the last nine months and has declined -22.2% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to fall short of the cost of capital, CDMO is expected to be a modest Value Eraser.
Avid Bioservices has a current Value Trend Rating of F (Lowest Rating). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Avid Bioservices has a very low Appreciation Score of 12 and a very low Power Rating of 0, triggering the Lowest Value Trend Rating.
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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