Cellular Biomedicine Group (NASDAQ:CBMG) Upgraded by BidaskClub to Hold

Cellular Biomedicine Group (NASDAQ:CBMG) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Saturday, BidAskClub reports.

Separately, Robert W. Baird downgraded shares of Cellular Biomedicine Group from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $28.00 to $19.00 in a report on Thursday, August 13th.

NASDAQ:CBMG opened at $18.70 on Friday. The stock has a 50 day simple moving average of $17.22 and a 200 day simple moving average of $15.26. Cellular Biomedicine Group has a 1-year low of $11.48 and a 1-year high of $19.50.

Cellular Biomedicine Group (NASDAQ:CBMG) last posted its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.13).

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in shares of Cellular Biomedicine Group by 4.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,735 shares of the biotechnology company’s stock valued at $446,000 after acquiring an additional 1,209 shares during the period. Bank of America Corp DE raised its stake in Cellular Biomedicine Group by 75.2% in the second quarter. Bank of America Corp DE now owns 5,515 shares of the biotechnology company’s stock valued at $83,000 after purchasing an additional 2,367 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Cellular Biomedicine Group by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 37,396 shares of the biotechnology company’s stock valued at $560,000 after purchasing an additional 1,767 shares in the last quarter. California Public Employees Retirement System lifted its position in Cellular Biomedicine Group by 3.8% during the second quarter. California Public Employees Retirement System now owns 24,900 shares of the biotechnology company’s stock worth $373,000 after purchasing an additional 900 shares during the period. Finally, Bessemer Group Inc. acquired a new stake in Cellular Biomedicine Group during the second quarter worth about $732,000. 17.95% of the stock is owned by hedge funds and other 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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