Cellular Biomedicine Group (NASDAQ:CBMG) Posts Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Cellular Biomedicine Group (NASDAQ:CBMG) announced its earnings results on Tuesday. The biotechnology company reported ($0.63) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.10), Morningstar.com reports. Cellular Biomedicine Group had a negative return on equity of 42.41% and a negative net margin of 17,921.62%.

Shares of CBMG traded down $1.82 during trading hours on Wednesday, hitting $11.79. 34,029 shares of the stock were exchanged, compared to its average volume of 42,472. Cellular Biomedicine Group has a 12-month low of $11.63 and a 12-month high of $25.00. The firm has a market capitalization of $248.11 million, a P/E ratio of -5.78 and a beta of 2.70. The stock has a 50-day moving average price of $14.41.

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA grew its holdings in Cellular Biomedicine Group by 1,641.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,456 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 2,315 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in Cellular Biomedicine Group in the 4th quarter valued at $81,000. Bank of New York Mellon Corp grew its holdings in Cellular Biomedicine Group by 16.3% in the 4th quarter. Bank of New York Mellon Corp now owns 37,857 shares of the biotechnology company’s stock valued at $669,000 after buying an additional 5,308 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in Cellular Biomedicine Group in the 4th quarter valued at $110,000. Finally, Bank of America Corp DE grew its holdings in Cellular Biomedicine Group by 207.8% in the 4th quarter. Bank of America Corp DE now owns 10,448 shares of the biotechnology company’s stock valued at $185,000 after buying an additional 7,054 shares in the last quarter. Hedge funds and other institutional investors own 19.36% of the company’s stock.

CBMG has been the subject of several research reports. Cantor Fitzgerald initiated coverage on Cellular Biomedicine Group in a research report on Tuesday, June 25th. They set an “overweight” rating and a $27.00 price target for the company. ValuEngine upgraded Cellular Biomedicine Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, BidaskClub cut Cellular Biomedicine Group from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Cellular Biomedicine Group currently has a consensus rating of “Buy” and a consensus price target of $27.50.

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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Earnings History for Cellular Biomedicine Group (NASDAQ:CBMG)

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