Cellectar Biosciences (NASDAQ:CLRB) Now Covered by Analysts at StockNews.com

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

CLRB has been the topic of several other reports. Oppenheimer reiterated a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th. LADENBURG THALM/SH SH assumed coverage on Cellectar Biosciences in a report on Thursday, December 5th. They set a “buy” rating and a $13.00 target price on the stock.

Cellectar Biosciences Stock Down 6.4 %

Shares of CLRB opened at $0.24 on Wednesday. The firm has a market capitalization of $10.01 million, a PE ratio of -0.14 and a beta of 1.04. The firm has a 50-day moving average price of $0.64 and a 200 day moving average price of $1.60. Cellectar Biosciences has a 52-week low of $0.22 and a 52-week high of $4.45.

Cellectar Biosciences (NASDAQ:CLRB) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter. On average, equities analysts expect that Cellectar Biosciences will post -1.59 EPS for the current year.

Institutional Investors Weigh In On Cellectar Biosciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Oppenheimer & Co. Inc. purchased a new position in Cellectar Biosciences in the 3rd quarter worth about $27,000. Sequoia Financial Advisors LLC purchased a new position in shares of Cellectar Biosciences in the third quarter worth approximately $51,000. Geode Capital Management LLC increased its position in shares of Cellectar Biosciences by 3.3% in the third 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 in the last quarter. 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 during the period. 16.41% of the stock is owned by institutional investors and hedge funds.

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.