Avid Biosciences shares are trading lower after the company issued FY24 revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Avid Biosciences issued FY24 revenue guidance below estimates, causing its shares to trade lower.
June 22, 2023 | 1:10 pm
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NEGATIVE IMPACT
Avid Biosciences (CDMO) shares are trading lower due to the company's FY24 revenue guidance being below estimates.
Avid Biosciences' lower-than-expected FY24 revenue guidance directly impacts the company's stock price, as it indicates potential underperformance in the future. This news is highly relevant and important for investors, leading to a negative short-term price direction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100