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Avid Bioservices Jumps 13% On Entry Into S&P SmallCap 600 Index

Shares of biotechnology company Avid Bioservices, Inc. (CDMO) are rising 13 percent on Tuesday's trading after the company announced that it would be added to the S&P SmallCap 600 Index, effective before trading begins on Friday, October 29.

Commenting on the development, Nick Green, President and Chief Executive Officer of Avid Bioservices, said, "We are pleased to be added to the S&P SmallCap 600 Index as it is a further demonstration of the momentum that Avid continues to generate as we successfully execute against our comprehensive growth strategy."

Currently at $29.52, the stock has traded between $6.99 and $29.81 during the past 52 weeks.

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