Cellectar Biosciences (NASDAQ:CLRB) Now Covered by Analysts at StockNews.com

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

Several other brokerages also recently weighed in on CLRB. LADENBURG THALM/SH SH started 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 reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th.

Cellectar Biosciences Stock Down 0.2 %

CLRB opened at $0.28 on Monday. Cellectar Biosciences has a 52 week low of $0.22 and a 52 week high of $4.45. The business has a 50 day moving average price of $1.02 and a two-hundred day moving average price of $1.77. The company has a market cap of $11.63 million, a PE ratio of -0.16 and a beta of 1.04.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CLRB. Oppenheimer & Co. Inc. acquired a new stake in shares of Cellectar Biosciences in the 3rd quarter worth approximately $27,000. Sequoia Financial Advisors LLC purchased a new position in shares of Cellectar Biosciences in the third quarter valued at $51,000. XTX Topco Ltd raised its stake in shares of Cellectar Biosciences by 432.4% during the 2nd quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock worth $158,000 after buying an additional 51,413 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Cellectar Biosciences by 3.3% in the 3rd 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 in the last quarter. Finally, Rosalind Advisors Inc. boosted its position in shares of Cellectar Biosciences by 35.7% in the 3rd quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock worth $7,857,000 after buying an additional 965,934 shares in 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.