Have a look on Latest News Update: Avid Bioservices Inc (NASDAQ: CDMO)

On Monday, Avid Bioservices Inc (NASDAQ: CDMO) stock traded volume of 0.11 million shares during its last trading session as compared to its average volume of 329332 shares over the recent month. CDMO ended its day with the downstream along the move of -0.74% and closed at the price of $5.34 before opening at $5.34. It has total market capitalization is $300309166. 52-week range of the stock remained $ 3.37 – 7.15 while its day lowest price was $5.29 and its hit its day highest price at $5.46.

Avid Bioservices, Inc. (CDMO) today reported the completion of the expansion of the company’s process development capabilities and laboratory space within its CDMO campus in Orange County, California. To celebrate the launch of its newly expanded facilities, Avid is recently hosting an open house and laboratory tour for existing and prospective clients.

Process development represents a vital CDMO function and one through which Avid provides a critical advantage to consumers in both early and late stages of development. The completed expansion project further strengthens the company’s capabilities in the areas of R&D support, process development, process characterization and validation, and pilot scale production for a broad range of biotechnology products.

Ultimately, the new suites importantly accelerate Avid’s ability to develop and deliver cost-effective, robust, scalable and compliant processes and to drive efficient and rapid “on-boarding” of new consumer programs progressing to manufacturing. Specific enhancements include a four-fold expansion of the company’s process development laboratory footprint and the addition of 24 advanced benchtop process development bioreactors, ranging from 3 liter to 15 liter capacity in single-use and glass.

Analyst recommendation for this stock stands at 1.70. The volatility in the previous week has experienced by 4.01% and observed of 4.91% in the previous month.52.20% ownership is held by institutional investors while insiders hold ownership of 0.10%.

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