Zacks Investment Research Downgrades Cellular Biomedicine Group (CBMG) to Hold

Zacks Investment Research downgraded shares of Cellular Biomedicine Group (NASDAQ:CBMG) from a buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “Cellular Biomedicine Group Inc. is a biomedicine firm engaged in the development of new treatments for degenerative and cancerous diseases utilizing proprietary cell therapy technologies. The Company offers developmental stem cell, progenitor cell, and immune cell projects. It is developing treatments utilizing proprietary cell technologies for the treatment of a range of cancers; joint disease and central nervous system diseases. Cellular Biomedicine Group Inc. is headquartered in Palo Alto, California. “

A number of other equities research analysts have also issued reports on the stock. B. Riley increased their price objective on shares of Cellular Biomedicine Group from $32.00 to $38.00 and gave the company a buy rating in a report on Wednesday, October 3rd. Maxim Group reaffirmed a hold rating on shares of Cellular Biomedicine Group in a report on Friday, June 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $28.50.

NASDAQ CBMG traded down $0.06 on Tuesday, reaching $15.62. 61,319 shares of the stock were exchanged, compared to its average volume of 58,535. Cellular Biomedicine Group has a one year low of $9.25 and a one year high of $25.00. The stock has a market cap of $307.86 million, a price-to-earnings ratio of -8.78 and a beta of 3.34.

Cellular Biomedicine Group (NASDAQ:CBMG) last released its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). Cellular Biomedicine Group had a negative return on equity of 47.52% and a negative net margin of 10,133.88%. The firm had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.05 million. Sell-side analysts predict that Cellular Biomedicine Group will post -2.14 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Northern Trust Corp grew its holdings in Cellular Biomedicine Group by 22.9% during the 1st quarter. Northern Trust Corp now owns 37,980 shares of the biotechnology company’s stock valued at $667,000 after buying an additional 7,076 shares in the last quarter. Rhumbline Advisers purchased a new stake in Cellular Biomedicine Group during the 2nd quarter valued at approximately $208,000. Schwab Charles Investment Management Inc. purchased a new stake in Cellular Biomedicine Group during the 2nd quarter valued at approximately $423,000. Bank of New York Mellon Corp grew its holdings in Cellular Biomedicine Group by 208.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 34,579 shares of the biotechnology company’s stock valued at $676,000 after buying an additional 23,354 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Cellular Biomedicine Group by 557.1% during the 2nd quarter. BlackRock Inc. now owns 588,852 shares of the biotechnology company’s stock valued at $11,512,000 after buying an additional 499,237 shares in the last quarter. 8.31% 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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