StockNews.com Initiates Coverage on Cellectar Biosciences (NASDAQ:CLRB)

StockNews.com initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research report report published on Sunday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued reports about the stock. LADENBURG THALM/SH SH assumed coverage on shares of Cellectar Biosciences in a report on Thursday, December 5th. They issued 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 report on Wednesday, December 11th.

Cellectar Biosciences Stock Performance

Cellectar Biosciences stock opened at $0.34 on Friday. Cellectar Biosciences has a 52 week low of $0.22 and a 52 week high of $4.45. The firm has a market capitalization of $14.11 million, a PE ratio of -0.20 and a beta of 1.04. The business’s 50-day simple moving average is $1.20 and its 200-day simple moving average is $1.85.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) EPS for the quarter. Research analysts forecast that Cellectar Biosciences will post -1.59 earnings per share for the current year.

Institutional Investors Weigh In On Cellectar Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of CLRB. Geode Capital Management LLC lifted its holdings in shares of Cellectar Biosciences by 3.3% during 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. Oppenheimer & Co. Inc. acquired a new position in Cellectar Biosciences in the third quarter worth about $27,000. Sequoia Financial Advisors LLC bought a new position in Cellectar Biosciences during the third quarter worth about $51,000. XTX Topco Ltd boosted its holdings in Cellectar Biosciences by 432.4% during the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after purchasing an additional 51,413 shares in the last quarter. Finally, AIGH Capital Management LLC grew its stake in shares of Cellectar Biosciences by 8.2% in the 2nd quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock valued at $7,590,000 after purchasing an additional 231,270 shares during the period. 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.