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

Analysts at StockNews.com began coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a report released on Tuesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently weighed in on the company. LADENBURG THALM/SH SH began coverage on Cellectar Biosciences in a research note on Thursday, December 5th. They issued 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 Trading Down 0.6 %

NASDAQ CLRB opened at $0.25 on Tuesday. The firm has a market capitalization of $10.19 million, a P/E ratio of -0.14 and a beta of 1.04. The firm’s fifty day moving average price is $0.80 and its two-hundred day moving average price is $1.67. Cellectar Biosciences has a 1 year low of $0.22 and a 1 year high of $4.45.

Cellectar Biosciences (NASDAQ:CLRB) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter. On average, research analysts anticipate that Cellectar Biosciences will post -1.59 EPS for the current fiscal year.

Institutional Trading of Cellectar Biosciences

A number of institutional investors have recently modified their holdings of CLRB. Geode Capital Management LLC raised its position in shares of Cellectar Biosciences by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after buying an additional 11,266 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Cellectar Biosciences during the third quarter worth $27,000. Rosalind Advisors Inc. boosted 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 valued at $7,857,000 after purchasing an additional 965,934 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Cellectar Biosciences in the 3rd quarter valued at $51,000. Finally, XTX Topco Ltd raised its holdings in shares of Cellectar Biosciences by 432.4% during 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. 16.41% of the stock is currently owned by institutional investors.

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.