Cellular Biomedicine Group (NASDAQ:CBMG) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of Cellular Biomedicine Group (NASDAQ:CBMG) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning, BidAskClub reports.

Several other equities research analysts also recently issued reports on CBMG. ValuEngine upgraded Cellular Biomedicine Group from a hold rating to a buy rating in a report on Thursday, April 2nd. BTIG Research downgraded Cellular Biomedicine Group from a buy rating to a neutral rating in a report on Wednesday, March 4th.

CBMG stock opened at $14.89 on Tuesday. The company has a market capitalization of $309.68 million, a PE ratio of -5.51 and a beta of 1.58. Cellular Biomedicine Group has a 12-month low of $10.98 and a 12-month high of $18.99. The business’s fifty day moving average price is $13.84 and its 200 day moving average price is $15.36.

Cellular Biomedicine Group (NASDAQ:CBMG) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported ($0.58) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.76) by $0.18. Sell-side analysts expect that Cellular Biomedicine Group will post -2.96 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CBMG. California Public Employees Retirement System grew its stake in Cellular Biomedicine Group by 26.3% during the 4th quarter. California Public Employees Retirement System now owns 24,000 shares of the biotechnology company’s stock worth $390,000 after purchasing an additional 5,000 shares in the last quarter. State Street Corp grew its stake in Cellular Biomedicine Group by 4.9% during the 4th quarter. State Street Corp now owns 228,966 shares of the biotechnology company’s stock worth $3,718,000 after purchasing an additional 10,750 shares in the last quarter. Vident Investment Advisory LLC grew its stake in Cellular Biomedicine Group by 41.3% during the 4th quarter. Vident Investment Advisory LLC now owns 17,479 shares of the biotechnology company’s stock worth $284,000 after purchasing an additional 5,106 shares in the last quarter. Citigroup Inc. boosted its position in shares of Cellular Biomedicine Group by 50.5% during the 4th quarter. Citigroup Inc. now owns 2,426 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 814 shares in the last quarter. Finally, Platinum Investment Management Ltd. boosted its position in shares of Cellular Biomedicine Group by 1.6% during the 4th quarter. Platinum Investment Management Ltd. now owns 715,351 shares of the biotechnology company’s stock worth $11,617,000 after acquiring an additional 11,478 shares in the last quarter. 21.96% 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.

Further Reading: Diluted Earnings Per Share

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