Cellectar Biosciences (NASDAQ:CLRB) Earns Sell Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a report issued on Saturday. The firm issued a sell rating on the biopharmaceutical company’s stock.

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

Cellectar Biosciences Stock Performance

Shares of CLRB opened at $0.29 on Friday. The firm’s 50-day simple moving average is $1.37 and its two-hundred day simple moving average is $1.94. Cellectar Biosciences has a fifty-two week low of $0.22 and a fifty-two week high of $4.45. The stock has a market cap of $12.05 million, a PE ratio of -0.17 and a beta of 0.89.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Rosalind Advisors Inc. boosted its position in shares of 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 acquiring an additional 965,934 shares during the last quarter. AIGH Capital Management LLC increased its holdings in shares of Cellectar Biosciences by 8.2% in the second quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock worth $7,590,000 after purchasing an additional 231,270 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of 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. XTX Topco Ltd grew its holdings in Cellectar Biosciences by 432.4% during the 2nd quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after buying an additional 51,413 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in Cellectar Biosciences in the 3rd quarter worth approximately $51,000. Institutional investors own 16.41% of the company’s stock.

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.