BTIG Research Begins Coverage on Cellular Biomedicine Group (NASDAQ:CBMG)

BTIG Research assumed coverage on shares of Cellular Biomedicine Group (NASDAQ:CBMG) in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $19.00 target price on the biotechnology company’s stock.

A number of other research firms have also recently commented on CBMG. Cantor Fitzgerald assumed coverage on Cellular Biomedicine Group in a research note on Tuesday, June 25th. They set an overweight rating and a $27.00 target price on the stock. BidaskClub raised Cellular Biomedicine Group from a sell rating to a hold rating in a research note on Friday, September 13th. Finally, ValuEngine raised Cellular Biomedicine Group from a hold rating to a buy rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Cellular Biomedicine Group has a consensus rating of Buy and an average price target of $25.80.

CBMG opened at $14.90 on Tuesday. The stock’s 50 day moving average price is $12.83 and its 200-day moving average price is $15.38. Cellular Biomedicine Group has a one year low of $10.98 and a one year high of $25.00.

Cellular Biomedicine Group (NASDAQ:CBMG) last released its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.10). Cellular Biomedicine Group had a negative net margin of 17,921.62% and a negative return on equity of 44.32%. As a group, equities research analysts predict that Cellular Biomedicine Group will post -2.39 earnings per share for the current year.

A number of large investors have recently made changes to their positions in CBMG. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Cellular Biomedicine Group in the first quarter worth approximately $6,622,000. ARK Investment Management LLC bought a new position in Cellular Biomedicine Group in the first quarter worth approximately $4,944,000. Nikko Asset Management Americas Inc. grew its stake in Cellular Biomedicine Group by 37.0% in the second quarter. Nikko Asset Management Americas Inc. now owns 532,318 shares of the biotechnology company’s stock worth $8,799,000 after purchasing an additional 143,798 shares in the last quarter. BlackRock Inc. grew its stake in Cellular Biomedicine Group by 16.0% in the second quarter. BlackRock Inc. now owns 749,694 shares of the biotechnology company’s stock worth $12,394,000 after purchasing an additional 103,540 shares in the last quarter. Finally, AWM Investment Company Inc. bought a new position in Cellular Biomedicine Group in the second quarter worth approximately $1,325,000. 20.37% of the stock is currently owned by 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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