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

StockNews.com initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research report report published on Tuesday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

A number of other research analysts have also commented on the stock. LADENBURG THALM/SH SH initiated coverage on shares of Cellectar Biosciences in a research report on Thursday, December 5th. They set a “buy” rating and a $13.00 price objective for the company. Oppenheimer reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th.

Cellectar Biosciences Stock Performance

Shares of CLRB opened at $0.38 on Tuesday. The company has a 50-day simple moving average of $0.29 and a 200-day simple moving average of $1.13. The firm has a market capitalization of $17.38 million, a P/E ratio of -0.22 and a beta of 0.96. Cellectar Biosciences has a 52 week low of $0.22 and a 52 week high of $4.17.

Institutional Trading of Cellectar Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLRB. Oppenheimer & Co. Inc. bought a new stake in Cellectar Biosciences in the third quarter valued at about $27,000. Geode Capital Management LLC grew its stake in Cellectar Biosciences by 3.3% during the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock worth $754,000 after buying an additional 11,266 shares during the last quarter. JPMorgan Chase & Co. grew its stake in 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 buying an additional 159,234 shares during the last quarter. Bank of America Corp DE grew its stake in Cellectar Biosciences by 25.3% during the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 41,704 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Cellectar Biosciences during the fourth quarter worth about $156,000. 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.