Analysts at Cantor Fitzgerald started coverage on shares of Cellular Biomedicine Group (NASDAQ:CBMG) in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $27.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 80.36% from the company’s current price.
Separately, BidaskClub cut shares of Cellular Biomedicine Group from a “buy” rating to a “hold” rating in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $27.50.
Shares of NASDAQ:CBMG opened at $14.97 on Tuesday. The company has a 50 day moving average price of $15.88. The firm has a market capitalization of $271.16 million, a PE ratio of -7.34 and a beta of 2.70. Cellular Biomedicine Group has a fifty-two week low of $12.04 and a fifty-two week high of $25.00.
Cellular Biomedicine Group (NASDAQ:CBMG) last issued its earnings results on Tuesday, April 30th. The biotechnology company reported ($0.51) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.57) by $0.06. The firm had revenue of $0.05 million for the quarter. Cellular Biomedicine Group had a negative net margin of 17,921.62% and a negative return on equity of 42.41%. Sell-side analysts predict that Cellular Biomedicine Group will post -2.09 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA raised its holdings in Cellular Biomedicine Group by 1,641.8% during the first quarter. BNP Paribas Arbitrage SA now owns 2,456 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 2,315 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in Cellular Biomedicine Group during the fourth quarter worth approximately $81,000. MetLife Investment Advisors LLC purchased a new position in shares of Cellular Biomedicine Group during the fourth quarter worth approximately $110,000. Bank of America Corp DE grew its position in shares of Cellular Biomedicine Group by 207.8% during the fourth quarter. Bank of America Corp DE now owns 10,448 shares of the biotechnology company’s stock worth $185,000 after acquiring an additional 7,054 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Cellular Biomedicine Group by 49.2% during the fourth quarter. Rhumbline Advisers now owns 15,377 shares of the biotechnology company’s stock worth $272,000 after acquiring an additional 5,074 shares during the last quarter. 18.99% 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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