Cellectar Biosciences (CLRB) Expected to Announce Earnings on Wednesday

Cellectar Biosciences (NASDAQ:CLRB) is expected to be announcing its earnings results before the market opens on Wednesday, March 26th. Analysts expect the company to announce earnings of ($0.38) per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Cellectar Biosciences Stock Performance

Shares of CLRB stock opened at $0.39 on Tuesday. The company has a market capitalization of $17.98 million, a P/E ratio of -0.23 and a beta of 0.96. Cellectar Biosciences has a fifty-two week low of $0.22 and a fifty-two week high of $4.17. The stock has a 50 day moving average price of $0.29 and a two-hundred day moving average price of $1.08.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. LADENBURG THALM/SH SH started coverage on shares of Cellectar Biosciences in a research report on Thursday, December 5th. They set a “buy” rating and a $13.00 price target for the company. Oppenheimer reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a research note on Wednesday, December 11th. Finally, StockNews.com assumed coverage on Cellectar Biosciences in a research note on Tuesday, March 18th. They issued a “sell” rating on the stock.

Institutional Trading of Cellectar Biosciences

A hedge fund recently raised its stake in Cellectar Biosciences stock. Bank of America Corp DE grew its holdings in shares of Cellectar Biosciences, Inc. (NASDAQ:CLRB) by 25.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 206,783 shares of the biopharmaceutical company’s stock after buying an additional 41,704 shares during the period. Bank of America Corp DE owned 0.45% of Cellectar Biosciences worth $62,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.