Avid Bioservices Inc (NASDAQ: CDMO) stock enjoyed a major increase of 14.9% on 7/3/24. The shares closed at $7.70. Moreover, this advance was accompanied by above average trading volume at 135% of normal. The stock has been strong relative to the market over the last nine months and has risen 8.5% 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). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Avid Bioservices has a very low Appreciation Score of 14 but a slightly positive Power Rating of 66, leading to the Negative Value Trend Rating.
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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