Cellular Biomedicine Group Inc (NASDAQ:CBMG)’s share price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $17.40 and traded as low as $17.11. Cellular Biomedicine Group shares last traded at $17.11, with a volume of 3,588 shares traded.
A number of equities research analysts recently commented on CBMG shares. ValuEngine raised shares of Cellular Biomedicine Group from a “hold” rating to a “buy” rating in a research note on Friday, November 29th. BidaskClub upgraded shares of Cellular Biomedicine Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. BTIG Research initiated coverage on shares of Cellular Biomedicine Group in a report on Tuesday, September 17th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, Robert W. Baird lowered shares of Cellular Biomedicine Group from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $26.00 to $19.00 in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Cellular Biomedicine Group has an average rating of “Buy” and an average price target of $21.67.
The business has a fifty day simple moving average of $17.40 and a 200 day simple moving average of $15.06. The stock has a market cap of $330.09 million, a price-to-earnings ratio of -8.39 and a beta of 2.92.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Cellular Biomedicine Group by 13.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 28,526 shares of the biotechnology company’s stock worth $472,000 after purchasing an additional 3,323 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Cellular Biomedicine Group during the third quarter valued at $687,000. AWM Investment Company Inc. acquired a new position in Cellular Biomedicine Group during the second quarter valued at $1,325,000. Northern Trust Corp raised its position in Cellular Biomedicine Group by 5.0% during the second quarter. Northern Trust Corp now owns 170,273 shares of the biotechnology company’s stock valued at $2,815,000 after buying an additional 8,101 shares during the period. Finally, State Street Corp lifted its stake in Cellular Biomedicine Group by 2.4% in the 3rd quarter. State Street Corp now owns 218,216 shares of the biotechnology company’s stock worth $3,243,000 after acquiring an additional 5,153 shares in the last quarter. 22.02% of the stock is owned by institutional investors.
About Cellular Biomedicine Group (NASDAQ:CBMG)
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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