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Noteworthy Monday Option Activity: TPR, CDMO, FTSV
Monday, December 9, 3:19 PM ET, by Market News Video Staff

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy ...

Insiders Were Right: CDMO Makes New 52-Week High
Tuesday, December 10, 3:20 PM ET, by Market News Video Staff

In trading on Tuesday, shares of Avid Bioservices Inc (CDMO) touched a new 52-week high ...

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Thursday, December 12, 2:24 PM ET, by Market News Video Staff

The most recent short interest data was recently released for the 04/15/2019 settlement date, and ...

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Friday, January 3, 10:36 AM ET, by Market News Video Staff

Investors in Avid Bioservices Inc (CDMO) saw new options begin trading this week, for the ...

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Bargain Hunters Take Note: Insider Cluster-Buying At CDMO

By Market News Video Staff, Thursday, April 2, 2:07 PM ET
Play Video: The Importance of Insider Buying


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A particularly strong insider buying signal is what we call a "cluster-buy" where three or more different insiders make open market purchases within a short period of one another. At Avid Bioservices Inc (NASDAQ:CDMO), 5 different insiders purchased 88,500 shares at an average price of $3.72/share, for a total of $329,115, with the most recent purchase on March 23, 2020.

Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. So when multiple insiders all decide to make purchases around the same time, it could be a strong indication that the stock is undervalued. Below is a table summarizing the insider buys that make up this "cluster":

Purchased Insider Title Shares Price/Share Value
03/13/2020 Richard B. Hancock Interim President & CEO 12,500 $3.99 $49,875.00
03/13/2020 Joseph Carleone Director 12,500 $4.01 $50,125.00
03/13/2020 Mark R. Bamforth Director 26,000 $4.01 $104,260.00
03/16/2020 Daniel Ryan Hart Chief Financial Officer 7,500 $3.77 $28,255.00
03/23/2020 Patrick D. Walsh Director 30,000 $3.22 $96,600.00

The chart below shows the one year performance of CDMO shares, versus its 200 day moving average. Note that CDMO's low point in its 52 week range is $3.02 per share, with $8.38 as the 52 week high point — that compares with a last trade of $4.80, with shares currently trading up about 4.7% on the day.

Avid Bioservices Inc Chart


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This Article's Word Cloud:   Avid   Bamforth   Bargains   Below   Bioservices   CDMO   Carleone   Channel   Cheaper   Chief   Daniel   Director   Dividend   Financial   Hancock   Hart   Insider   Insiders   Interim   Joseph   March   Mark   Newsletter   Note   Offer   Officer   Patrick   Premium   President   Presumably   Price   Purchased   average   cluster   different   insider   insiders   make   market   open   point   purchases   share   shares   stock   strong   that   their   week   with
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Bargain Hunters Take Note: Insider Cluster-Buying At CDMO | Market News Video | Copyright © 2008 - 2020, All Rights Reserved

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