Cellular Biomedicine Group (CBMG) Announces Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Share on StockTwits

Cellular Biomedicine Group (NASDAQ:CBMG) announced its earnings results on Tuesday. The biotechnology company reported ($0.56) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by ($0.04), MarketWatch Earnings reports. The business had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.05 million. Cellular Biomedicine Group had a negative return on equity of 47.52% and a negative net margin of 10,133.88%.

CBMG traded up $2.50 during mid-day trading on Wednesday, hitting $16.82. 2,335 shares of the stock were exchanged, compared to its average volume of 65,768. Cellular Biomedicine Group has a 1-year low of $9.80 and a 1-year high of $25.00. The firm has a market cap of $263.53 million, a price-to-earnings ratio of -8.36 and a beta of 3.45.

Several analysts have issued reports on the company. BidaskClub upgraded Cellular Biomedicine Group from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research lowered Cellular Biomedicine Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, B. Riley set a $38.00 target price on Cellular Biomedicine Group and gave the stock a “buy” rating in a research note on Sunday, October 14th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $28.50.

An institutional investor recently raised its position in Cellular Biomedicine Group stock. Bank of New York Mellon Corp increased its position in shares of Cellular Biomedicine Group Inc (NASDAQ:CBMG) by 208.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,579 shares of the biotechnology company’s stock after acquiring an additional 23,354 shares during the period. Bank of New York Mellon Corp owned about 0.20% of Cellular Biomedicine Group worth $676,000 at the end of the most recent quarter. 7.61% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This report was first posted by Week Herald and is the property of of Week Herald. If you are accessing this report on another publication, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The legal version of this report can be read at https://weekherald.com/2018/11/07/cellular-biomedicine-group-cbmg-announces-quarterly-earnings-results-misses-estimates-by-0-04-eps.html.

Cellular Biomedicine Group Company Profile

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, orthopedic, and metabolic diseases. The company develops treatments utilizing proprietary cell based technologies, including immune cell therapy for the treatment of a range of cancers; human adipose-derived mesenchymal progenitor cells for the treatment of joint and autoimmune diseases; tumor cell specific dendritic cell therapy; and Re-Join therapy and AlloJoin therapy for the treatment of knee osteoarthritis.

Read More: What is Cost of Debt?

Earnings History for Cellular Biomedicine Group (NASDAQ:CBMG)

Receive News & Ratings for Cellular Biomedicine Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cellular Biomedicine Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply