Cellectar Biosciences (NASDAQ:CLRB) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a report released on Friday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Other equities analysts have also issued research reports about the stock. Oppenheimer reiterated a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th. LADENBURG THALM/SH SH started coverage on shares of Cellectar Biosciences in a research note on Thursday, December 5th. They issued a “buy” rating and a $13.00 price target for the company.

Cellectar Biosciences Trading Down 4.4 %

CLRB opened at $0.24 on Friday. The business’s 50 day moving average is $1.62 and its 200-day moving average is $2.10. The stock has a market cap of $9.82 million, a PE ratio of -0.14 and a beta of 0.89. Cellectar Biosciences has a twelve month low of $0.22 and a twelve month high of $4.45.

Cellectar Biosciences (NASDAQ:CLRB) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. As a group, analysts forecast that Cellectar Biosciences will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CLRB. Geode Capital Management LLC boosted its holdings in Cellectar Biosciences by 3.3% during the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock worth $754,000 after buying an additional 11,266 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Cellectar Biosciences during the 3rd quarter worth approximately $27,000. Rosalind Advisors Inc. grew its position in Cellectar Biosciences by 35.7% during the 3rd quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock worth $7,857,000 after purchasing an additional 965,934 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Cellectar Biosciences during the 3rd quarter valued at $51,000. Finally, XTX Topco Ltd grew its holdings in shares of Cellectar Biosciences by 432.4% during the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after buying an additional 51,413 shares in the last quarter. 16.41% of the stock is owned by institutional investors and hedge funds.

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.