Cellectar Biosciences (NASDAQ:CLRB) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research note released on Monday. The firm issued a sell rating on the biopharmaceutical company’s stock.

A number of other brokerages also recently issued reports on CLRB. Oppenheimer reiterated 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 report on Thursday, December 5th. They set a “buy” rating and a $13.00 price objective on the stock.

Cellectar Biosciences Stock Up 1.2 %

Shares of Cellectar Biosciences stock opened at $0.32 on Monday. Cellectar Biosciences has a 52-week low of $0.22 and a 52-week high of $4.17. The company has a 50 day moving average of $0.29 and a 200 day moving average of $1.19. The company has a market capitalization of $14.59 million, a P/E ratio of -0.18 and a beta of 0.96.

Institutional Trading of Cellectar Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC acquired a new stake in Cellectar Biosciences during the fourth quarter worth approximately $156,000. Geode Capital Management LLC increased its holdings 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 valued at $754,000 after acquiring an additional 11,266 shares during the period. Bank of America Corp DE increased its holdings in shares of Cellectar Biosciences by 25.3% in the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 41,704 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Cellectar Biosciences by 687.3% in the 4th quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 159,234 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Cellectar Biosciences in the 3rd quarter valued at $27,000. Institutional investors and hedge funds 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.