Cellectar Biosciences’ (CLRB) “Market Perform” Rating Reiterated at Oppenheimer

Oppenheimer reaffirmed their market perform rating on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research note published on Wednesday,Benzinga reports.

Other equities research analysts have also issued research reports about the stock. LADENBURG THALM/SH SH initiated coverage on shares of Cellectar Biosciences in a report on Thursday, December 5th. They set a “buy” rating and a $13.00 price objective for the company. StockNews.com upgraded Cellectar Biosciences to a “sell” rating in a report on Thursday, September 26th.

Cellectar Biosciences Price Performance

Shares of NASDAQ CLRB opened at $0.26 on Wednesday. Cellectar Biosciences has a 1 year low of $0.23 and a 1 year high of $4.45. The company has a market cap of $10.73 million, a P/E ratio of -0.14 and a beta of 0.89. The firm has a 50-day simple moving average of $1.81 and a two-hundred day simple moving average of $2.20.

Cellectar Biosciences (NASDAQ:CLRB) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. As a group, equities research analysts expect that Cellectar Biosciences will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. bought a new stake in shares of Cellectar Biosciences in the 3rd quarter valued at about $27,000. Sequoia Financial Advisors LLC bought a new stake in shares of Cellectar Biosciences in the 3rd quarter valued at about $51,000. XTX Topco Ltd raised its stake in Cellectar Biosciences by 432.4% in the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock worth $158,000 after buying an additional 51,413 shares in the last quarter. Geode Capital Management LLC raised its stake in Cellectar Biosciences by 3.3% in the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock worth $754,000 after buying an additional 11,266 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Cellectar Biosciences by 146.7% in the first quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock worth $4,741,000 after buying an additional 708,191 shares in the last quarter. 16.41% of the stock is currently owned by institutional investors.

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.