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

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

Several other research analysts have also recently issued reports on CLRB. LADENBURG THALM/SH SH initiated coverage on Cellectar Biosciences in a research report on Thursday, December 5th. They issued 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 research note on Wednesday, December 11th.

Cellectar Biosciences Price Performance

Cellectar Biosciences stock opened at $0.31 on Friday. Cellectar Biosciences has a one year low of $0.22 and a one year high of $4.45. The stock has a market capitalization of $14.47 million, a PE ratio of -0.18 and a beta of 1.05. The business’s fifty day moving average is $0.28 and its 200 day moving average is $1.36.

Institutional Trading of Cellectar Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rosalind Advisors Inc. raised its stake in Cellectar Biosciences by 35.7% during the 3rd quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock valued at $7,857,000 after purchasing an additional 965,934 shares during the period. Squarepoint Ops LLC purchased a new position in Cellectar Biosciences during the 4th quarter valued at approximately $156,000. Geode Capital Management LLC grew its holdings in Cellectar Biosciences by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after buying an additional 11,266 shares in the last quarter. Bank of America Corp DE grew 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 valued at $62,000 after buying an additional 41,704 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Cellectar Biosciences by 687.3% during the 4th quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 159,234 shares in the last quarter. 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.