Cellectar Biosciences (NASDAQ:CLRB) Rating Increased to Sell at StockNews.com

Cellectar Biosciences (NASDAQ:CLRB) was upgraded by research analysts at StockNews.com to a “sell” rating in a research note issued on Tuesday.

Cellectar Biosciences Stock Down 0.5 %

Shares of NASDAQ CLRB opened at $2.10 on Tuesday. The business’s 50 day moving average is $2.19 and its two-hundred day moving average is $2.89. Cellectar Biosciences has a 52-week low of $1.82 and a 52-week high of $4.45. The firm has a market cap of $75.28 million, a price-to-earnings ratio of -0.68 and a beta of 0.99.

Hedge Funds Weigh In On Cellectar Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Rosalind Advisors Inc. boosted its stake in shares of Cellectar Biosciences by 335.4% in the second quarter. Rosalind Advisors Inc. now owns 2,705,616 shares of the biopharmaceutical company’s stock valued at $6,764,000 after purchasing an additional 2,084,138 shares during the period. ADAR1 Capital Management LLC purchased a new position in Cellectar Biosciences in the 4th quarter valued at approximately $3,817,000. AIGH Capital Management LLC grew its stake in shares of Cellectar Biosciences by 182.7% in the fourth quarter. AIGH Capital Management LLC now owns 1,915,220 shares of the biopharmaceutical company’s stock worth $5,305,000 after acquiring an additional 1,237,709 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Cellectar Biosciences by 146.7% during the first quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock worth $4,741,000 after acquiring an additional 708,191 shares during the period. Finally, XTX Topco Ltd raised its stake in shares of Cellectar Biosciences by 432.4% in the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after acquiring an additional 51,413 shares in the last quarter. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

Cellectar Biosciences Company Profile

Cellectar Biosciences, Inc, a clinical biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for the treatment of cancer. Its lead phospholipid drug conjugate (PDC) candidate is CLR 131 (iopofosine I-131), which is in Phase 2 clinical study for patients with B-cell malignancies; Phase 2a clinical study for patients with relapsed or refractory (r/r) Waldenstrom's macroglobulinemia cohort, r/r multiple myeloma (MM) cohort, and r/r non-Hodgkin's lymphoma cohort; Phase 1 clinical study for r/r pediatric patients with select solid tumors, lymphomas, and malignant brain tumors; and Phase 1 clinical study for r/r head and neck cancer.