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

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

CLRB has been the topic of several other research reports. Oppenheimer reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a research note on Wednesday, December 11th. 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 on the stock.

Cellectar Biosciences Price Performance

NASDAQ:CLRB opened at $0.26 on Wednesday. Cellectar Biosciences has a 12 month low of $0.22 and a 12 month high of $4.45. The business’s 50-day moving average is $0.67 and its two-hundred day moving average is $1.61. The firm has a market capitalization of $10.70 million, a PE ratio of -0.15 and a beta of 1.04.

Cellectar Biosciences (NASDAQ:CLRB) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) EPS for the quarter. Equities analysts anticipate that Cellectar Biosciences will post -1.59 EPS for the current year.

Institutional Investors Weigh In On Cellectar Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of CLRB. Oppenheimer & Co. Inc. acquired a new position in Cellectar Biosciences in the third quarter worth about $27,000. Sequoia Financial Advisors LLC acquired a new position in shares of Cellectar Biosciences in the 3rd quarter worth approximately $51,000. Geode Capital Management LLC increased its holdings 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 acquiring an additional 11,266 shares during the last quarter. Finally, Rosalind Advisors Inc. raised its position in shares of Cellectar Biosciences by 35.7% during the 3rd quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock valued at $7,857,000 after acquiring an additional 965,934 shares in the last quarter. Institutional investors 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.