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

StockNews.com started coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research report sent to investors on Saturday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

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

Cellectar Biosciences Stock Performance

NASDAQ:CLRB opened at $0.31 on Friday. Cellectar Biosciences has a 52 week low of $0.22 and a 52 week high of $4.45. The firm’s fifty day moving average is $1.41 and its 200-day moving average is $1.97. The firm has a market cap of $12.74 million, a P/E ratio of -0.18 and a beta of 0.89.

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

Institutional Investors Weigh In On Cellectar Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC purchased a new position in shares of Cellectar Biosciences in the 3rd quarter worth approximately $51,000. Rosalind Advisors Inc. lifted its holdings in Cellectar Biosciences by 35.7% during the third quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock worth $7,857,000 after acquiring an additional 965,934 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Cellectar Biosciences in the third quarter worth $27,000. XTX Topco Ltd boosted its position in Cellectar Biosciences by 432.4% in the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock worth $158,000 after purchasing an additional 51,413 shares during the last quarter. Finally, AIGH Capital Management LLC grew its stake 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 valued at $7,590,000 after purchasing an additional 231,270 shares during the period. Hedge funds and other 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.