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

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

CLRB has been the subject of a number of other research reports. LADENBURG THALM/SH SH started coverage on 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 reiterated a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th.

Cellectar Biosciences Stock Performance

CLRB stock opened at $0.24 on Wednesday. The firm has a 50 day simple moving average of $0.64 and a 200 day simple moving average of $1.60. Cellectar Biosciences has a 52 week low of $0.22 and a 52 week high of $4.45. The stock has a market cap of $10.01 million, a P/E ratio of -0.14 and a beta of 1.04.

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. Sell-side analysts predict that Cellectar Biosciences will post -1.59 EPS for the current year.

Institutional Investors Weigh In On Cellectar Biosciences

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