Cellectar Biosciences (CLRB) to Release Earnings on Wednesday

Cellectar Biosciences (NASDAQ:CLRB) is expected to post its quarterly earnings results before the market opens on Wednesday, March 26th. Analysts expect Cellectar Biosciences to post earnings of ($0.38) per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Cellectar Biosciences Trading Up 12.0 %

Shares of CLRB opened at $0.38 on Wednesday. The firm has a market capitalization of $17.38 million, a P/E ratio of -0.22 and a beta of 0.96. The stock’s fifty day simple moving average is $0.29 and its 200 day simple moving average is $1.13. Cellectar Biosciences has a twelve month low of $0.22 and a twelve month high of $4.17.

Hedge Funds Weigh In On Cellectar Biosciences

A hedge fund recently raised its stake in Cellectar Biosciences stock. Bank of America Corp DE raised its stake in Cellectar Biosciences, Inc. (NASDAQ:CLRB) by 25.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 206,783 shares of the biopharmaceutical company’s stock after acquiring an additional 41,704 shares during the period. Bank of America Corp DE owned 0.45% of Cellectar Biosciences worth $62,000 as of its most recent SEC filing. 16.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CLRB has been the topic of several research reports. 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 price objective on the stock. Oppenheimer reissued a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th. Finally, StockNews.com assumed coverage on Cellectar Biosciences in a research note on Tuesday. They set a “sell” rating for the company.

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.