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

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

Other equities analysts have also recently issued research reports about the company. Oppenheimer restated a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th. LADENBURG THALM/SH SH began 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 on the stock.

Cellectar Biosciences Trading Up 0.5 %

Shares of NASDAQ:CLRB opened at $0.24 on Tuesday. Cellectar Biosciences has a 1-year low of $0.22 and a 1-year high of $4.45. The business has a 50-day moving average price of $0.88 and a two-hundred day moving average price of $1.71. The stock has a market capitalization of $10.05 million, a P/E ratio of -0.14 and a beta of 1.04.

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

Hedge Funds Weigh In On Cellectar Biosciences

Several institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. bought a new stake in Cellectar Biosciences during the 3rd quarter worth approximately $27,000. Sequoia Financial Advisors LLC bought a new stake in shares of Cellectar Biosciences during the third quarter worth $51,000. XTX Topco Ltd raised its holdings in shares of Cellectar Biosciences by 432.4% during 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 period. Geode Capital Management LLC lifted its position 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 acquiring an additional 11,266 shares in the last quarter. Finally, Rosalind Advisors Inc. boosted its stake in 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 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.