Maxim Group Reiterates Hold Rating for Cellular Biomedicine Group (CBMG)

Maxim Group reiterated their hold rating on shares of Cellular Biomedicine Group (NASDAQ:CBMG) in a report issued on Friday morning.

Several other equities research analysts have also recently weighed in on CBMG. ValuEngine upgraded shares of Cellular Biomedicine Group from a hold rating to a buy rating in a research report on Friday, June 1st. B. Riley reiterated a buy rating on shares of Cellular Biomedicine Group in a research report on Friday, March 16th. BidaskClub cut shares of Cellular Biomedicine Group from a buy rating to a hold rating in a research report on Wednesday, May 9th. Finally, Zacks Investment Research upgraded shares of Cellular Biomedicine Group from a sell rating to a hold rating in a research report on Monday, June 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $25.00.

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Shares of NASDAQ CBMG opened at $17.95 on Friday. Cellular Biomedicine Group has a 52-week low of $7.10 and a 52-week high of $22.75. The company has a market capitalization of $311.29 million, a price-to-earnings ratio of -10.08 and a beta of 3.41.

Cellular Biomedicine Group (NASDAQ:CBMG) last announced its quarterly earnings results on Monday, May 7th. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($0.05). Cellular Biomedicine Group had a negative net margin of 9,594.83% and a negative return on equity of 45.67%. The business had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.10 million. equities research analysts predict that Cellular Biomedicine Group will post -1.72 earnings per share for the current year.

In other news, Director Wen Tao Liu sold 10,400 shares of the stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $20.10, for a total transaction of $209,040.00. Following the completion of the sale, the director now directly owns 223,476 shares in the company, valued at $4,491,867.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 8.30% of the company’s stock.

A hedge fund recently raised its stake in Cellular Biomedicine Group stock. Northern Trust Corp increased its stake in shares of Cellular Biomedicine Group Inc (NASDAQ:CBMG) by 22.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,980 shares of the biotechnology company’s stock after acquiring an additional 7,076 shares during the quarter. Northern Trust Corp owned approximately 0.22% of Cellular Biomedicine Group worth $667,000 at the end of the most recent quarter. 4.09% 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, 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.

Bayer Closes Monsanto Deal to Cap $63 Billion Transformation

Bayer AG closed its $63 billion acquisition of Monsanto Co., emerging from an arduous two-year antitrust review as the biggest seed and agricultural chemicals maker in the world.

The deal’s closing is just the beginning of another tough task: knitting the two companies together. Integration should begin in about two months, once the sale of some of Bayer’s agriculture assets to BASF SE is complete. The combined unit will be based in Monheim, Germany, while the North American business and seeds division will be led from St. Louis.

The transaction, which will double the size of Bayer’s agriculture business, means “we will be even better placed to help the world’s farmers grow more healthy and affordable food in a sustainable manner,” Bayer Chairman Werner Baumann said in a statement on Thursday.

Bayer has sold off its plastics business and remade itself into a life-science company with half its sales from health and half from agriculture. The takeover also marks the third in a series of mega-deals in the industry, following Dow Chemical Co.’s merger with DuPont Co. and China National Chemical Corp.’s takeover of Syngenta AG.

To soothe regulators’ concerns about whether enough competitors would remain in the market, Bayer agreed to sell about 7.6 billion euros ($9 billion) in assets to BASF. They include field seeds as well as Bayer’s vegetable-seeds business, some seed treatments and digital farming projects.

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