Cellectar Biosciences (NASDAQ:CLRB) Coverage Initiated by Analysts at StockNews.com

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

CLRB has been the subject of several other reports. 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 for the company. Oppenheimer reissued a “market perform” rating on shares of Cellectar Biosciences in a research note on Wednesday, December 11th.

Cellectar Biosciences Stock Up 2.1 %

Shares of CLRB stock opened at $0.25 on Tuesday. The firm has a market cap of $10.26 million, a P/E ratio of -0.14 and a beta of 1.04. The business has a 50-day moving average price of $0.84 and a two-hundred day moving average price of $1.69. Cellectar Biosciences has a 12-month low of $0.22 and a 12-month high of $4.45.

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

Hedge Funds Weigh In On Cellectar Biosciences

A number of hedge funds have recently modified their holdings of the company. Oppenheimer & Co. Inc. purchased a new stake in shares of Cellectar Biosciences during the third quarter worth about $27,000. Sequoia Financial Advisors LLC purchased a new stake in Cellectar Biosciences in the 3rd quarter worth approximately $51,000. XTX Topco Ltd grew its position in shares of Cellectar Biosciences by 432.4% in 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 increased its stake in shares of Cellectar Biosciences by 3.3% during the third 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 during the period. Finally, Rosalind Advisors Inc. raised its holdings in shares of Cellectar Biosciences by 35.7% during the third quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock valued at $7,857,000 after acquiring an additional 965,934 shares in the last quarter. 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.