Cellectar Biosciences (NASDAQ:CLRB) Raised to Sell at StockNews.com

StockNews.com upgraded shares of Cellectar Biosciences (NASDAQ:CLRB) to a sell rating in a research note issued to investors on Thursday.

Cellectar Biosciences Stock Performance

Shares of CLRB stock opened at $2.04 on Thursday. Cellectar Biosciences has a 1 year low of $1.82 and a 1 year high of $4.45. The business’s fifty day moving average is $2.11 and its 200-day moving average is $2.79. The stock has a market cap of $73.13 million, a PE ratio of -0.66 and a beta of 0.99.

Institutional Investors Weigh In On Cellectar Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of CLRB. Rosalind Advisors Inc. lifted its stake in Cellectar Biosciences by 335.4% during the second quarter. Rosalind Advisors Inc. now owns 2,705,616 shares of the biopharmaceutical company’s stock valued at $6,764,000 after purchasing an additional 2,084,138 shares during the last quarter. ADAR1 Capital Management LLC acquired a new stake in shares of Cellectar Biosciences during the 4th quarter valued at $3,817,000. Vanguard Group Inc. boosted its stake in shares of Cellectar Biosciences by 146.7% during the 1st quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock worth $4,741,000 after acquiring an additional 708,191 shares in the last quarter. AIGH Capital Management LLC grew its holdings in shares of Cellectar Biosciences by 8.2% in the 2nd quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock worth $7,590,000 after acquiring an additional 231,270 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of 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 acquiring an additional 51,413 shares during the last quarter. 16.41% of the stock is owned by institutional investors and hedge funds.

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.