BidaskClub upgraded shares of Cellular Biomedicine Group (NASDAQ:CBMG) from a sell rating to a hold rating in a research note released on Tuesday morning.
Several other equities research analysts also recently weighed in on the stock. B. Riley set a $38.00 price objective on shares of Cellular Biomedicine Group and gave the stock a buy rating in a report on Sunday, October 14th. Zacks Investment Research downgraded shares of Cellular Biomedicine Group from a buy rating to a hold rating in a report on Tuesday, October 9th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $28.50.
CBMG stock opened at $16.71 on Tuesday. The stock has a market capitalization of $265.39 million, a P/E ratio of -9.39 and a beta of 3.45. Cellular Biomedicine Group has a fifty-two week low of $10.00 and a fifty-two week high of $25.00.
Cellular Biomedicine Group (NASDAQ:CBMG) last posted its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($0.04). The company had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.05 million. Cellular Biomedicine Group had a negative return on equity of 49.44% and a negative net margin of 13,988.39%. Analysts forecast that Cellular Biomedicine Group will post -1.74 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of CBMG. Northern Trust Corp lifted its holdings in Cellular Biomedicine Group by 22.9% in the first quarter. Northern Trust Corp now owns 37,980 shares of the biotechnology company’s stock worth $667,000 after purchasing an additional 7,076 shares during the period. Rhumbline Advisers bought a new stake in Cellular Biomedicine Group in the second quarter worth about $208,000. Bank of New York Mellon Corp raised its position in Cellular Biomedicine Group by 208.1% in the second quarter. Bank of New York Mellon Corp now owns 34,579 shares of the biotechnology company’s stock worth $676,000 after acquiring an additional 23,354 shares in the last quarter. Schwab Charles Investment Management Inc. bought a new stake in Cellular Biomedicine Group in the second quarter worth about $423,000. Finally, BlackRock Inc. raised its position in Cellular Biomedicine Group by 557.1% in the second quarter. BlackRock Inc. now owns 588,852 shares of the biotechnology company’s stock worth $11,512,000 after acquiring an additional 499,237 shares in the last quarter. 7.61% of the stock is owned by institutional investors and hedge funds.
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, orthopedic, and metabolic diseases. The company develops treatments utilizing proprietary cell based technologies, including immune cell therapy for the treatment of a range of cancers; human adipose-derived mesenchymal progenitor cells for the treatment of joint and autoimmune diseases; tumor cell specific dendritic cell therapy; and Re-Join therapy and AlloJoin therapy for the treatment of knee osteoarthritis.
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