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

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

Several other research firms also recently issued reports on CLRB. Oppenheimer reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a research note on Wednesday, December 11th. LADENBURG THALM/SH SH initiated coverage on shares of Cellectar Biosciences in a research report on Thursday, December 5th. They issued a “buy” rating and a $13.00 price target for the company.

Cellectar Biosciences Price Performance

Shares of NASDAQ:CLRB opened at $0.31 on Friday. Cellectar Biosciences has a one year low of $0.22 and a one year high of $4.45. The company has a market cap of $12.74 million, a price-to-earnings ratio of -0.18 and a beta of 0.89. The firm has a 50 day simple moving average of $1.41 and a 200 day simple moving average of $1.98.

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

Institutional Trading of Cellectar Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Cellectar Biosciences by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock worth $754,000 after acquiring an additional 11,266 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Cellectar Biosciences during the 3rd quarter valued at about $27,000. Sequoia Financial Advisors LLC acquired a new stake in Cellectar Biosciences during the third quarter worth approximately $51,000. XTX Topco Ltd increased its holdings in 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. Finally, AIGH Capital Management LLC lifted its stake in 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 valued at $7,590,000 after buying an additional 231,270 shares during the period. Institutional investors and hedge funds 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.