Avid Bioservices Inc (NASDAQ: CDMO) stock enjoyed a major increase of 10.7% on 6/21/24. The shares closed at $7.54. Moreover, exceptionally high trading volume at 455% of normal accompanied the advance. The stock has been strong relative to the market over the last nine months but has declined -0.9% 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 D (Negative). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Avid Bioservices has a very low Appreciation Score of 13 but a neutral Power Rating of 58, and the Negative Value Trend Rating results.
Rating Review
In light of this very positive price change we are reviewing our current Overall Rating of D. This review will be completed in the next several days.
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