Cellectar Biosciences (NASDAQ:CLRB) Given New $12.00 Price Target at Oppenheimer

Cellectar Biosciences (NASDAQ:CLRB) had its target price dropped by equities research analysts at Oppenheimer from $14.00 to $12.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock.

Separately, StockNews.com raised Cellectar Biosciences to a “sell” rating in a research note on Thursday, September 26th.

Cellectar Biosciences Trading Down 3.1 %

Shares of CLRB stock opened at $1.56 on Tuesday. The firm has a fifty day simple moving average of $2.06 and a two-hundred day simple moving average of $2.41. Cellectar Biosciences has a 12 month low of $1.55 and a 12 month high of $4.45. The firm has a market capitalization of $63.29 million, a PE ratio of -0.62 and a beta of 1.00.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter. On average, equities analysts predict that Cellectar Biosciences will post -1.57 earnings per share for the current fiscal year.

Institutional Trading of Cellectar Biosciences

Institutional investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. purchased a new stake in Cellectar Biosciences in the 3rd quarter valued at about $27,000. Sequoia Financial Advisors LLC bought a new position in shares of Cellectar Biosciences in the third quarter valued at approximately $51,000. XTX Topco Ltd increased its position in shares of Cellectar Biosciences by 432.4% during the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after acquiring an additional 51,413 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 acquiring an additional 11,266 shares during the period. Finally, Vanguard Group Inc. boosted its position in Cellectar Biosciences by 146.7% in the first quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock worth $4,741,000 after purchasing an additional 708,191 shares during the last quarter. 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.