B. Riley Begins Coverage on Cellular Biomedicine Group (CBMG)

B. Riley initiated coverage on shares of Cellular Biomedicine Group (NASDAQ:CBMG) in a report released on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $32.00 target price on the biotechnology company’s stock.

Other equities analysts also recently issued reports about the stock. BidaskClub upgraded shares of Cellular Biomedicine Group from a hold rating to a buy rating in a research note on Wednesday, January 10th. Maxim Group reiterated a hold rating on shares of Cellular Biomedicine Group in a research note on Tuesday, March 6th.

Cellular Biomedicine Group (NASDAQ CBMG) opened at $18.95 on Thursday. Cellular Biomedicine Group has a one year low of $5.05 and a one year high of $22.75.

Cellular Biomedicine Group (NASDAQ:CBMG) last released its quarterly earnings data on Tuesday, March 6th. The biotechnology company reported ($0.48) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.08). Cellular Biomedicine Group had a negative net margin of 7,564.10% and a negative return on equity of 45.60%. The business had revenue of $0.07 million for the quarter. sell-side analysts expect that Cellular Biomedicine Group will post -1.94 earnings per share for the current year.

In other news, insider Yihong Yao bought 4,167 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The stock was bought at an average price of $12.00 per share, with a total value of $50,004.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tony Liu bought 29,167 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were purchased at an average cost of $12.00 per share, with a total value of $350,004.00. The disclosure for this purchase can be found here. Insiders have purchased 41,667 shares of company stock valued at $500,004 in the last three months. 8.20% of the stock is currently owned by corporate insiders.

A hedge fund recently bought a new stake in Cellular Biomedicine Group stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Cellular Biomedicine Group Inc (NASDAQ:CBMG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,041 shares of the biotechnology company’s stock, valued at approximately $107,000. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of Cellular Biomedicine Group as of its most recent SEC filing. 2.79% of the stock is owned by institutional investors.

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About Cellular Biomedicine Group

Cellular Biomedicine Group Inc is a United States-based company which is engaged in the development of cell therapy technologies. The Company develops proprietary cell therapies for the treatment of cancer and degenerative diseases. The Company conducts immuno-oncology and stem cell clinical trials in China using products from the good manufacturing practices (GMP) laboratory.

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