Cellectar Biosciences (NASDAQ:CLRB) Now Covered by Analysts at StockNews.com

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

CLRB has been the subject of several other reports. Oppenheimer reissued a “market perform” rating on shares of Cellectar Biosciences in a research note 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 for the company.

Cellectar Biosciences Price Performance

Shares of CLRB opened at $0.32 on Monday. The stock has a market cap of $14.65 million, a price-to-earnings ratio of -0.18 and a beta of 0.96. Cellectar Biosciences has a 1-year low of $0.22 and a 1-year high of $4.22. The firm has a 50 day simple moving average of $0.29 and a 200-day simple moving average of $1.22.

Hedge Funds Weigh In On Cellectar Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new position in shares of Cellectar Biosciences during the 4th quarter valued at $156,000. Geode Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 11,266 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of 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 acquiring an additional 41,704 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 159,234 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Cellectar Biosciences during the 3rd quarter valued at $27,000. Institutional investors and hedge funds 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.