Cellectar Biosciences (NASDAQ:CLRB) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRBGet Rating) in a report published on Monday. The firm issued a sell rating on the biopharmaceutical company’s stock.

A number of other analysts also recently commented on the stock. Oppenheimer dropped their price target on shares of Cellectar Biosciences from $47.00 to $12.00 in a research report on Friday, November 4th. Maxim Group lowered their price objective on shares of Cellectar Biosciences to $7.00 in a research note on Tuesday, November 15th. Finally, HC Wainwright lifted their price objective on shares of Cellectar Biosciences from $3.00 to $4.00 and gave the stock a buy rating in a research note on Friday, November 4th.

Cellectar Biosciences Trading Down 1.1 %

CLRB stock opened at $1.88 on Monday. Cellectar Biosciences has a 52 week low of $1.75 and a 52 week high of $7.90. The company has a market capitalization of $17.65 million, a price-to-earnings ratio of -0.42 and a beta of 1.19. The firm’s 50-day moving average is $2.59 and its two-hundred day moving average is $3.87.

Hedge Funds Weigh In On Cellectar Biosciences

Several hedge funds have recently made changes to their positions in the business. State Street Corp increased its position in shares of Cellectar Biosciences by 4.5% in the second quarter. State Street Corp now owns 157,146 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 6,800 shares in the last quarter. 1900 Wealth Management LLC purchased a new position in shares of Cellectar Biosciences in the third quarter worth approximately $40,000. Renaissance Technologies LLC increased its position in shares of Cellectar Biosciences by 31.3% in the second quarter. Renaissance Technologies LLC now owns 166,500 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 39,700 shares in the last quarter. Worth Venture Partners LLC increased its position in shares of Cellectar Biosciences by 122.8% in the first quarter. Worth Venture Partners LLC now owns 458,245 shares of the biopharmaceutical company’s stock worth $315,000 after acquiring an additional 252,570 shares in the last quarter. Finally, AIGH Capital Management LLC increased its position in shares of Cellectar Biosciences by 104.9% in the first quarter. AIGH Capital Management LLC now owns 1,837,046 shares of the biopharmaceutical company’s stock worth $1,263,000 after acquiring an additional 940,456 shares in the last quarter.

About Cellectar Biosciences

(Get Rating)

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 in patients with relapsed or refractory (r/r) Waldenstrom's macroglobulinemia and B-cell malignancies; Phase 2B clinical study in r/r multiple myeloma (MM) patients; and Phase I study for various pediatric cancers, r/r head and neck cancers, and R/R MM.

Further Reading

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