Cellectar Biosciences (NASDAQ:CLRB) Coverage Initiated at StockNews.com

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

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

Cellectar Biosciences Trading Down 2.2 %

Shares of CLRB stock opened at $0.28 on Friday. The stock has a market capitalization of $12.95 million, a P/E ratio of -0.16 and a beta of 1.05. The firm’s 50 day moving average is $0.36 and its 200 day moving average is $1.43. Cellectar Biosciences has a 12 month low of $0.22 and a 12 month high of $4.45.

Hedge Funds Weigh In On Cellectar Biosciences

A number of institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in shares of Cellectar Biosciences by 687.3% in the 4th quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 159,234 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cellectar Biosciences by 3.3% in the 3rd 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 during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Cellectar Biosciences in the 3rd quarter worth $27,000. Rosalind Advisors Inc. increased 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 buying an additional 965,934 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Cellectar Biosciences in the 3rd quarter worth $51,000. Institutional investors 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.