Cellectar Biosciences (NASDAQ:CLRB) Price Target Cut to $12.00 by Analysts at Oppenheimer

Cellectar Biosciences (NASDAQ:CLRB) had its target price cut by Oppenheimer from $14.00 to $12.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

Separately, StockNews.com raised Cellectar Biosciences to a “sell” rating in a research report on Thursday, September 26th.

Cellectar Biosciences Stock Performance

NASDAQ:CLRB opened at $1.61 on Tuesday. The stock has a 50-day simple moving average of $2.07 and a 200-day simple moving average of $2.42. The stock has a market cap of $65.32 million, a P/E ratio of -0.63 and a beta of 1.00. Cellectar Biosciences has a 1 year low of $1.57 and a 1 year high of $4.45.

Cellectar Biosciences (NASDAQ:CLRB) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter. On average, equities research analysts predict that Cellectar Biosciences will post -1.57 EPS for the current year.

Institutional Trading of Cellectar Biosciences

A number of large investors have recently made changes to their positions in CLRB. Rosalind Advisors Inc. boosted its position in shares of Cellectar Biosciences by 335.4% in the 2nd 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 period. Vanguard Group Inc. boosted its position in shares of Cellectar Biosciences by 146.7% in the 1st quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock valued at $4,741,000 after purchasing an additional 708,191 shares during the period. AIGH Capital Management LLC boosted its position 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 valued at $7,590,000 after purchasing an additional 231,270 shares during the period. XTX Topco Ltd boosted its position 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 valued at $158,000 after purchasing an additional 51,413 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Cellectar Biosciences in the 3rd quarter valued at about $51,000. 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.