Sequoia Financial Advisors LLC Purchases New Stake in Cellectar Biosciences, Inc. (NASDAQ:CLRB)

Sequoia Financial Advisors LLC purchased a new position in Cellectar Biosciences, Inc. (NASDAQ:CLRB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 23,800 shares of the biopharmaceutical company’s stock, valued at approximately $51,000. Sequoia Financial Advisors LLC owned about 0.07% of Cellectar Biosciences as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. 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 during the last quarter. Vanguard Group Inc. grew its position in shares of Cellectar Biosciences by 146.7% in the 1st quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock worth $4,741,000 after buying an additional 708,191 shares during the last quarter. Rosalind Advisors Inc. increased its stake in shares of Cellectar Biosciences by 335.4% during 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 during the period. Finally, AIGH Capital Management LLC increased its stake in shares of 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 valued at $7,590,000 after buying an additional 231,270 shares during the period. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CLRB shares. StockNews.com raised Cellectar Biosciences to a “sell” rating in a research note on Thursday, September 26th. Oppenheimer reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Cellectar Biosciences in a research report on Friday, October 11th.

Cellectar Biosciences Stock Performance

CLRB stock opened at $2.05 on Thursday. Cellectar Biosciences, Inc. has a fifty-two week low of $1.82 and a fifty-two week high of $4.45. The company has a market capitalization of $73.49 million, a price-to-earnings ratio of -0.67 and a beta of 0.99. The business’s 50 day moving average price is $2.10 and its two-hundred day moving average price is $2.52.

Cellectar Biosciences 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.