BidaskClub Downgrades Cellular Biomedicine Group (NASDAQ:CBMG) to Hold

BidaskClub cut shares of Cellular Biomedicine Group (NASDAQ:CBMG) from a buy rating to a hold rating in a report published on Tuesday, BidAskClub reports.

A number of other analysts have also issued reports on the company. ValuEngine lowered Cellular Biomedicine Group from a buy rating to a hold rating in a research note on Monday, September 30th. BTIG Research began coverage on Cellular Biomedicine Group in a research note on Tuesday, September 17th. They issued a buy rating and a $19.00 price target on the stock. Finally, Cantor Fitzgerald began coverage on Cellular Biomedicine Group in a research note on Tuesday, June 25th. They issued an overweight rating and a $27.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $27.50.

Shares of NASDAQ:CBMG opened at $14.93 on Tuesday. The stock’s 50-day moving average price is $13.62 and its two-hundred day moving average price is $15.01. Cellular Biomedicine Group has a 12-month low of $10.98 and a 12-month high of $20.63.

Cellular Biomedicine Group (NASDAQ:CBMG) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts expect that Cellular Biomedicine Group will post -2.41 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ARK Investment Management LLC lifted its stake in shares of Cellular Biomedicine Group by 10.0% in the 2nd quarter. ARK Investment Management LLC now owns 314,378 shares of the biotechnology company’s stock valued at $5,197,000 after purchasing an additional 28,616 shares in the last quarter. Platinum Investment Management Ltd. lifted its stake in shares of Cellular Biomedicine Group by 2.9% in the 2nd quarter. Platinum Investment Management Ltd. now owns 672,885 shares of the biotechnology company’s stock valued at $11,123,000 after purchasing an additional 19,170 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Cellular Biomedicine Group by 1,641.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,456 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 2,315 shares in the last quarter. AWM Investment Company Inc. acquired a new position in shares of Cellular Biomedicine Group in the 2nd quarter valued at about $1,325,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Cellular Biomedicine Group by 38.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 528,418 shares of the biotechnology company’s stock valued at $8,735,000 after purchasing an additional 145,616 shares in the last quarter. 20.37% of the stock is currently 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 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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