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

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

A number of other analysts also recently weighed in on CLRB. LADENBURG THALM/SH SH assumed coverage on shares of Cellectar Biosciences in a research report on Thursday, December 5th. They set a “buy” rating and a $13.00 price target for the company. Oppenheimer reissued a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th.

Cellectar Biosciences Trading Up 0.7 %

CLRB stock opened at $0.29 on Friday. Cellectar Biosciences has a twelve month low of $0.22 and a twelve month high of $4.45. The company has a market capitalization of $13.34 million, a P/E ratio of -0.17 and a beta of 1.05. The firm has a 50 day simple moving average of $0.28 and a 200-day simple moving average of $1.29.

Hedge Funds Weigh In On Cellectar Biosciences

Large investors have recently added to or reduced their stakes in the company. Rosalind Advisors Inc. lifted its stake in Cellectar Biosciences by 35.7% during the third 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 last quarter. Oppenheimer & Co. Inc. bought a new position in Cellectar Biosciences during the third quarter worth $27,000. Bank of America Corp DE lifted its stake in Cellectar Biosciences by 25.3% during the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 41,704 shares during the last quarter. Squarepoint Ops LLC bought a new position in Cellectar Biosciences during the fourth quarter worth $156,000. Finally, JPMorgan Chase & Co. lifted 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 worth $55,000 after purchasing an additional 159,234 shares during the last quarter. 16.41% of the stock is currently owned by institutional investors.

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.