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

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

Other equities research analysts also recently issued research reports about the stock. Oppenheimer reiterated a “market perform” rating on shares of Cellectar Biosciences in a research note on Wednesday, December 11th. LADENBURG THALM/SH SH assumed coverage on Cellectar Biosciences in a research note on Thursday, December 5th. They set a “buy” rating and a $13.00 target price for the company.

Cellectar Biosciences Trading Down 7.1 %

Shares of NASDAQ CLRB opened at $0.33 on Wednesday. The stock has a 50 day moving average of $0.30 and a two-hundred day moving average of $1.04. The stock has a market cap of $15.43 million, a P/E ratio of -0.19 and a beta of 0.96. Cellectar Biosciences has a twelve month low of $0.22 and a twelve month high of $4.15.

Institutional Trading of Cellectar Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in Cellectar Biosciences by 687.3% during the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 159,234 shares during the period. Bank of America Corp DE boosted its stake in shares of Cellectar Biosciences by 25.3% during the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 41,704 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Cellectar Biosciences in the 4th quarter worth approximately $156,000. Finally, Geode Capital Management LLC grew 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 worth $754,000 after acquiring an additional 11,266 shares during the period. Institutional investors and hedge funds 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.