Maxim Group Thinks Cellular Biomedicine Group’s Stock is Going to Recover

By Ryan Adsit

Maxim Group analyst Gabrielle Zhou reiterated a Buy rating on Cellular Biomedicine Group (NASDAQ: CBMG) today and set a price target of $18. The company’s shares opened today at $6.15, close to its 52-week low of $5.05.

Zhou wrote:

“CBMG’s stock was down sharply last Friday, off ~45% on no news, and rebounding today but shy of recovering Friday’s loss. Why? We spoke with management last week and we discussed short sellers that were active (driving the stock down). Management did announce today that Tongi University will now be the site in the company’s CAR-T trial. Tongi is a highly respected University and that carries through with the affiliated hospital. As such we see news that they will participate in the company’s P1 study in Non-Hodgkin’s Lymphoma as validating.”

According to TipRanks.com, Zhou is ranked 0 out of 5 stars with an average return of -14.7% and a 20.4% success rate. Zhou covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, ContraVir Pharmaceuticals Inc, and Sciclone Pharmaceuticals.

Cellular Biomedicine Group has an analyst consensus of Moderate Buy, with a price target consensus of $18.

The company has a one year high of $16.39 and a one year low of $5.05. Currently, Cellular Biomedicine Group has an average volume of 18.03K.

Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CBMG in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Cellular Biomedicine Group, Inc. is a biopharmaceutical company. The company engages in the development of treatments for degenerative and cancerous diseases utilizing proprietary cell-based technologies. Its technology include immune cell therapy for treatment of a range of cancers using Chimeric Antigen Receptor T cell, cancer vaccine, and T Central Memory cell technology; and human adipose-derived mesenchymal progenitor cells for treatment of joint and autoimmune diseases, with primary research and manufacturing facilities in China. Cellular Biomedicine Group was founded in 2009 and is headquartered in Cupertino, CA.