StockNews.com Begins Coverage on Cellectar Biosciences (NASDAQ:CLRB)

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

CLRB has been the subject of a number of other reports. Oppenheimer reissued a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th. LADENBURG THALM/SH SH began coverage on shares of Cellectar Biosciences in a research note on Thursday, December 5th. They issued a “buy” rating and a $13.00 price objective for the company.

Cellectar Biosciences Stock Performance

Shares of NASDAQ:CLRB opened at $0.25 on Wednesday. The firm has a market cap of $10.28 million, a price-to-earnings ratio of -0.14 and a beta of 1.04. The firm has a fifty day moving average price of $0.61 and a 200 day moving average price of $1.59. Cellectar Biosciences has a fifty-two week low of $0.22 and a fifty-two week high of $4.45.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. As a group, research analysts predict that Cellectar Biosciences will post -1.59 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC bought a new position in Cellectar Biosciences during the 3rd quarter valued at about $51,000. Rosalind Advisors Inc. grew its stake in shares of Cellectar Biosciences by 35.7% during the third quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock valued at $7,857,000 after buying an additional 965,934 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Cellectar Biosciences during the third quarter valued at approximately $27,000. Finally, Geode Capital Management LLC raised its holdings in shares of Cellectar Biosciences by 3.3% in 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 period. 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.