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

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

CLRB has been the topic of several other research reports. Oppenheimer reaffirmed 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 note on Thursday, December 5th. They set a “buy” rating and a $13.00 price objective on the stock.

Cellectar Biosciences Price Performance

Shares of CLRB stock opened at $0.30 on Thursday. The stock’s fifty day simple moving average is $0.46 and its 200 day simple moving average is $1.50. Cellectar Biosciences has a one year low of $0.22 and a one year high of $4.45. The firm has a market cap of $13.82 million, a price-to-earnings ratio of -0.17 and a beta of 1.05.

Hedge Funds Weigh In On Cellectar Biosciences

A number of large investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC bought a new position in Cellectar Biosciences in the 3rd quarter worth approximately $51,000. Rosalind Advisors Inc. increased its stake 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 valued at $7,857,000 after buying an additional 965,934 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Cellectar Biosciences during the third quarter worth $27,000. Finally, Geode Capital Management LLC lifted its stake in shares of Cellectar Biosciences by 3.3% during the third 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 during the period. 16.41% of the stock is currently owned by institutional investors and hedge funds.

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.