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

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

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

Cellectar Biosciences Trading Down 4.3 %

NASDAQ:CLRB opened at $0.26 on Wednesday. The company has a market capitalization of $10.70 million, a P/E ratio of -0.15 and a beta of 1.04. The firm has a 50-day moving average price of $0.67 and a two-hundred day moving average price of $1.61. Cellectar Biosciences has a twelve month low of $0.22 and a twelve month high of $4.45.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. On average, equities research analysts predict that Cellectar Biosciences will post -1.59 earnings per share for the current year.

Hedge Funds Weigh In On Cellectar Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. purchased a new stake in shares of Cellectar Biosciences during the 3rd quarter valued at $27,000. Sequoia Financial Advisors LLC purchased a new stake in Cellectar Biosciences during the third quarter valued at about $51,000. Geode Capital Management LLC increased its stake 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 acquiring an additional 11,266 shares during the last quarter. Finally, Rosalind Advisors Inc. raised its holdings in shares of Cellectar Biosciences by 35.7% in 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 during the period. 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.