Cellectar Biosciences (NASDAQ:CLRB) Earns Sell Rating from Analysts at StockNews.com

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

Several other equities analysts have also recently issued reports on CLRB. LADENBURG THALM/SH SH assumed coverage on shares of Cellectar Biosciences in a research report on Thursday, December 5th. They set a “buy” rating and a $13.00 price target on the stock. Oppenheimer reiterated a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th.

Cellectar Biosciences Price Performance

NASDAQ:CLRB opened at $0.24 on Friday. The company has a market cap of $9.70 million, a P/E ratio of -0.14 and a beta of 0.89. Cellectar Biosciences has a 1 year low of $0.22 and a 1 year high of $4.45. The stock’s fifty day moving average price is $1.59 and its two-hundred day moving average price is $2.07.

Cellectar Biosciences (NASDAQ:CLRB) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter. On average, analysts expect that Cellectar Biosciences will post -1.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. AIGH Capital Management LLC lifted its position in shares of Cellectar Biosciences by 8.2% during the 2nd quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock valued at $7,590,000 after buying an additional 231,270 shares in the last quarter. XTX Topco Ltd lifted its holdings in 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 purchasing an additional 51,413 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Cellectar Biosciences in the third quarter worth approximately $51,000. Rosalind Advisors Inc. raised its position in shares of Cellectar Biosciences by 35.7% during the 3rd quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock valued at $7,857,000 after purchasing an additional 965,934 shares during the period. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Cellectar Biosciences during the 3rd quarter valued at $27,000. Hedge funds and other 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.