StockNews.com Begins Coverage on Cellectar Biosciences (NASDAQ:CLRB)

Investment analysts at StockNews.com initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Several other research analysts have also recently issued reports on CLRB. Oppenheimer reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th. 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 price objective on the stock.

Cellectar Biosciences Stock Performance

Shares of Cellectar Biosciences stock opened at $0.34 on Tuesday. Cellectar Biosciences has a 52 week low of $0.22 and a 52 week high of $4.17. The stock has a 50 day moving average price of $0.29 and a two-hundred day moving average price of $1.14. The stock has a market capitalization of $15.52 million, a PE ratio of -0.20 and a beta of 0.96.

Institutional Investors Weigh In On Cellectar Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of CLRB. Squarepoint Ops LLC bought a new stake in shares of Cellectar Biosciences during the fourth quarter valued at about $156,000. JPMorgan Chase & Co. grew its stake in Cellectar Biosciences by 687.3% during the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 159,234 shares in the last quarter. Bank of America Corp DE increased its holdings in Cellectar Biosciences by 25.3% during the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 41,704 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Cellectar Biosciences in the 3rd quarter worth approximately $27,000. Finally, Geode Capital Management LLC boosted its holdings in Cellectar Biosciences by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after purchasing an additional 11,266 shares during the period. 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.