Cellectar Biosciences (NASDAQ:CLRB) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research note issued to investors on Tuesday. The firm issued a sell rating on the biopharmaceutical company’s stock.

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

Cellectar Biosciences Stock Down 1.3 %

Shares of CLRB stock opened at $0.24 on Tuesday. The business’s fifty day moving average is $0.76 and its 200 day moving average is $1.66. The stock has a market cap of $10.07 million, a price-to-earnings ratio of -0.14 and a beta of 1.04. Cellectar Biosciences has a twelve month low of $0.22 and a twelve month high of $4.45.

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. Equities research analysts expect that Cellectar Biosciences will post -1.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cellectar Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLRB. Rosalind Advisors Inc. increased its holdings in shares of Cellectar Biosciences by 35.7% in the 3rd 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 in the last quarter. Geode Capital Management LLC increased its holdings in Cellectar Biosciences by 3.3% in the 3rd 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 increased its holdings in Cellectar Biosciences by 432.4% in the 2nd 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. Sequoia Financial Advisors LLC purchased a new position in Cellectar Biosciences in the 3rd quarter worth about $51,000. Finally, Oppenheimer & Co. Inc. bought a new position in Cellectar Biosciences during the 3rd quarter valued at about $27,000. 16.41% of the stock is 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.