Cellectar Biosciences (NASDAQ:CLRB) Now Covered by StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research note issued to investors on Wednesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the company. LADENBURG THALM/SH SH assumed coverage on Cellectar Biosciences in a research note on Thursday, December 5th. They issued a “buy” rating and a $13.00 price target for the company. Oppenheimer reiterated a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th.

Cellectar Biosciences Stock Down 1.1 %

Shares of Cellectar Biosciences stock opened at $0.39 on Wednesday. The stock has a market capitalization of $17.78 million, a price-to-earnings ratio of -0.22 and a beta of 0.96. Cellectar Biosciences has a twelve month low of $0.22 and a twelve month high of $4.15. The company has a 50-day simple moving average of $0.30 and a two-hundred day simple moving average of $1.07.

Institutional Investors Weigh In On Cellectar Biosciences

A number of institutional investors have recently made changes to their positions in CLRB. JPMorgan Chase & Co. increased its position in shares of Cellectar Biosciences by 687.3% during the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 159,234 shares in the last quarter. Bank of America Corp DE boosted its position in Cellectar Biosciences by 25.3% in the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 41,704 shares during the last quarter. Squarepoint Ops LLC bought a new position in Cellectar Biosciences during the fourth quarter valued at about $156,000. Finally, Geode Capital Management LLC grew its position in shares of Cellectar Biosciences by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after acquiring an additional 11,266 shares during the period. Institutional investors own 16.41% of the company’s stock.

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.