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

Investment analysts at StockNews.com initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a report released on Sunday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

CLRB has been the topic of a number of other research reports. Oppenheimer restated a “market perform” rating on shares of Cellectar Biosciences in a research note on Wednesday, December 11th. LADENBURG THALM/SH SH initiated coverage on shares of Cellectar Biosciences in a research report on Thursday, December 5th. They set a “buy” rating and a $13.00 price objective on the stock.

Cellectar Biosciences Price Performance

NASDAQ:CLRB opened at $0.35 on Friday. Cellectar Biosciences has a one year low of $0.22 and a one year high of $4.45. The business has a fifty day moving average price of $1.23 and a 200-day moving average price of $1.88. The firm has a market capitalization of $14.25 million, a price-to-earnings ratio of -0.20 and a beta of 1.04.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Cellectar Biosciences by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after buying an additional 11,266 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Cellectar Biosciences in the third quarter worth $27,000. Sequoia Financial Advisors LLC bought a new position in shares of Cellectar Biosciences during the third quarter worth $51,000. XTX Topco Ltd grew its stake 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 acquiring an additional 51,413 shares in the last quarter. Finally, AIGH Capital Management LLC increased 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 valued at $7,590,000 after acquiring an additional 231,270 shares during the last quarter. 16.41% of the stock is owned by hedge funds and other institutional investors.

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.