Cellular Biomedicine Group (NASDAQ:CBMG) Raised to “Hold” at BidaskClub

Cellular Biomedicine Group (NASDAQ:CBMG) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Wednesday, BidAskClub reports.

Several other brokerages have also issued reports on CBMG. ValuEngine lowered Cellular Biomedicine Group from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Cantor Fitzgerald started coverage on Cellular Biomedicine Group in a report on Tuesday, June 25th. They issued an “overweight” rating and a $27.00 price target on the stock. Finally, BTIG Research started coverage on Cellular Biomedicine Group in a research note on Tuesday, September 17th. They issued a “buy” rating and a $19.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Cellular Biomedicine Group currently has a consensus rating of “Buy” and an average target price of $24.00.

NASDAQ:CBMG traded down $0.13 on Wednesday, hitting $14.80. The stock had a trading volume of 212 shares, compared to its average volume of 29,036. The business’s fifty day moving average is $14.01 and its 200 day moving average is $14.95. The company has a market cap of $293.99 million, a PE ratio of -7.28 and a beta of 2.84. Cellular Biomedicine Group has a 52 week low of $10.98 and a 52 week high of $20.63.

Cellular Biomedicine Group (NASDAQ:CBMG) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.10). Cellular Biomedicine Group had a negative return on equity of 44.32% and a negative net margin of 17,921.62%. As a group, analysts anticipate that Cellular Biomedicine Group will post -2.41 EPS for the current year.

Several institutional investors have recently modified their holdings of CBMG. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Cellular Biomedicine Group by 38.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 528,418 shares of the biotechnology company’s stock valued at $8,735,000 after acquiring an additional 145,616 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its stake in Cellular Biomedicine Group by 37.0% during the second quarter. Nikko Asset Management Americas Inc. now owns 532,318 shares of the biotechnology company’s stock valued at $8,799,000 after buying an additional 143,798 shares during the period. BlackRock Inc. boosted its stake in Cellular Biomedicine Group by 16.0% during the second quarter. BlackRock Inc. now owns 749,694 shares of the biotechnology company’s stock valued at $12,394,000 after buying an additional 103,540 shares during the period. AWM Investment Company Inc. bought a new stake in Cellular Biomedicine Group during the second quarter valued at $1,325,000. Finally, ARK Investment Management LLC lifted its stake in Cellular Biomedicine Group by 10.0% during the second quarter. ARK Investment Management LLC now owns 314,378 shares of the biotechnology company’s stock worth $5,197,000 after purchasing an additional 28,616 shares during the last quarter. 20.37% of the stock is owned by hedge funds and other institutional investors.

About Cellular Biomedicine Group

Cellular Biomedicine Group, Inc, a clinical stage biopharmaceutical company, develops therapies for cancer and degenerative diseases in Greater China. It focuses on developing and marketing cell-based therapies to treat various diseases, such as cancer and orthopedic diseases. The company develops treatments utilizing proprietary cell based technologies, including immune cell therapy for treating a range of cancer indications comprising technologies in chimeric antigen receptor modified T cells (CAR-T), a genetically modified T-cell receptors (TCRs), and next generation neoantigen-reactive tumor infiltrating lymphocytes; and human adipose-derived mesenchymal progenitor cells for the treatment of joint diseases.

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