Cellectar Biosciences (NASDAQ:CLRB) Shares Cross Above Fifty Day Moving Average – Here’s Why

Shares of Cellectar Biosciences, Inc. (NASDAQ:CLRB) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $2.08 and traded as high as $2.17. Cellectar Biosciences shares last traded at $2.13, with a volume of 89,208 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Cellectar Biosciences to a “sell” rating in a research note on Thursday, September 26th.

Cellectar Biosciences Stock Down 0.5 %

The firm has a market capitalization of $76.36 million, a P/E ratio of -0.69 and a beta of 0.99. The company’s 50 day moving average is $2.08 and its 200-day moving average is $2.72.

Institutional Trading of Cellectar Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ADAR1 Capital Management LLC acquired a new stake in Cellectar Biosciences in the fourth quarter valued at approximately $3,817,000. Vanguard Group Inc. grew its position in Cellectar Biosciences by 146.7% in the 1st quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock valued at $4,741,000 after purchasing an additional 708,191 shares during the period. XTX Topco Ltd increased its stake in Cellectar Biosciences by 432.4% during the 2nd quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after purchasing an additional 51,413 shares in the last quarter. AIGH Capital Management LLC raised its holdings in Cellectar Biosciences by 8.2% during the second quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock worth $7,590,000 after buying an additional 231,270 shares during the last quarter. Finally, Rosalind Advisors Inc. lifted 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 buying an additional 2,084,138 shares in the last quarter. 16.41% of the stock is owned by 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.