Oppenheimer Reaffirms Outperform Rating for Cellectar Biosciences (NASDAQ:CLRB)

Oppenheimer reiterated their outperform rating on shares of Cellectar Biosciences (NASDAQ:CLRB) in a report published on Friday morning, Benzinga reports. Oppenheimer currently has a $14.00 price objective on the biopharmaceutical company’s stock.

Separately, StockNews.com upgraded shares of Cellectar Biosciences to a sell rating in a research report on Thursday, September 26th.

Cellectar Biosciences Stock Performance

Shares of CLRB opened at $2.12 on Friday. Cellectar Biosciences has a fifty-two week low of $1.82 and a fifty-two week high of $4.45. The firm has a 50 day moving average price of $2.08 and a 200-day moving average price of $2.67. The firm has a market cap of $76.00 million, a price-to-earnings ratio of -0.69 and a beta of 0.99.

Institutional Trading of Cellectar Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of 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. Rosalind Advisors Inc. boosted its position in Cellectar Biosciences by 335.4% during the 2nd quarter. Rosalind Advisors Inc. now owns 2,705,616 shares of the biopharmaceutical company’s stock valued at $6,764,000 after buying an additional 2,084,138 shares during the period. AIGH Capital Management LLC grew its holdings in Cellectar Biosciences by 8.2% in the 2nd quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock worth $7,590,000 after acquiring an additional 231,270 shares during the last quarter. Finally, XTX Topco Ltd increased its position in shares of Cellectar Biosciences by 432.4% in 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 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.