Cellectar Biosciences (NASDAQ:CLRB) Upgraded at StockNews.com

Cellectar Biosciences (NASDAQ:CLRB) was upgraded by StockNews.com to a “sell” rating in a research report issued on Thursday.

Cellectar Biosciences Stock Performance

NASDAQ:CLRB opened at $1.92 on Thursday. Cellectar Biosciences has a 1 year low of $1.82 and a 1 year high of $4.45. The stock has a market cap of $68.83 million, a price-to-earnings ratio of -0.62 and a beta of 0.99. The business has a fifty day moving average of $2.14 and a 200-day moving average of $2.81.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CLRB. ADAR1 Capital Management LLC bought a new position in shares of Cellectar Biosciences in the fourth quarter worth $3,817,000. Vanguard Group Inc. grew its stake in shares of Cellectar Biosciences by 146.7% in the first quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock worth $4,741,000 after purchasing an additional 708,191 shares in the last quarter. Rosalind Advisors Inc. grew 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 worth $6,764,000 after purchasing an additional 2,084,138 shares in the last quarter. AIGH Capital Management LLC grew its stake in shares of Cellectar Biosciences by 8.2% in the second quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock worth $7,590,000 after purchasing an additional 231,270 shares in the last quarter. Finally, XTX Topco Ltd grew 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 worth $158,000 after purchasing an additional 51,413 shares in the last quarter. Institutional investors own 16.41% of the company’s stock.

About Cellectar Biosciences

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.