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Top Buys by Directors: Hancock's $336.8K Bet on CDMO

By Dividend Channel Staff, Monday, April 1, 3:01 PM ET

The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $336.8K invested across 2 purchases by Richard B. Hancock, Director at Avid Bioservices Inc (NASDAQ:CDMO).

Hancock bets big on CDMO:

Purchased Insider Title Shares Price/Share Value
12/15/2023 Richard B. Hancock Director 23,000 $5.86 $134,734.00
12/13/2023 Richard B. Hancock Director 38,803 $5.21 $202,035.58

Hancock's average cost works out to $5.45/share. Shares of Avid Bioservices Inc were changing hands at $6.46 at last check, trading down about 3.6% on Monday. The chart below shows the one year performance of CDMO shares, versus its 200 day moving average:

Avid Bioservices Inc Chart

Looking at the chart above, CDMO's low point in its 52 week range is $4.0705 per share, with $21.05 as the 52 week high point — that compares with a last trade of $6.46.

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This Article's Word Cloud:   Avid   Bioservices   Buys   CDMO   Company   Days   Director   Directors   Dollars   Hancock   Insider   Join   Looking   Monday   Offer   Presumably   Price   Purchased   Richard   Seven   Share   Shares   Special   Start   Title   Value   ValueForum   about   above   across   average   below   bets   both   buys   chart   company   directors   last   make   maybe   mdash   point   share   stock   take   that   they   week   with

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