Cellectar Biosciences (NASDAQ:CLRB) Earns Sell Rating from Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a note issued to investors on Monday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

A number of other brokerages also recently weighed in on CLRB. Oppenheimer restated a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th. LADENBURG THALM/SH SH initiated coverage on shares of Cellectar Biosciences in a research report on Thursday, December 5th. They set a “buy” rating and a $13.00 price objective for the company.

Cellectar Biosciences Trading Down 9.2 %

Shares of CLRB opened at $0.28 on Monday. The company has a market cap of $11.65 million, a price-to-earnings ratio of -0.16 and a beta of 1.04. Cellectar Biosciences has a 1-year low of $0.22 and a 1-year high of $4.45. The company’s fifty day simple moving average is $1.06 and its 200 day simple moving average is $1.78.

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

Institutional Investors Weigh In On Cellectar Biosciences

A number of large investors have recently modified their holdings of the business. Rosalind Advisors Inc. lifted its position in shares of 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 buying an additional 965,934 shares during the last quarter. XTX Topco Ltd lifted its holdings 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 acquiring an additional 51,413 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Cellectar Biosciences in the 3rd quarter valued at approximately $51,000. Oppenheimer & Co. Inc. bought a new stake in shares of Cellectar Biosciences during the 3rd quarter valued at approximately $27,000. Finally, Geode Capital Management LLC increased its position 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 purchasing an additional 11,266 shares in the last quarter. Institutional investors and hedge funds own 16.41% of the company’s stock.

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.