Cellectar Biosciences (NASDAQ:CLRB) Earns Sell Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research report sent to investors on Friday. The firm issued a sell rating on the biopharmaceutical company’s stock.

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

Cellectar Biosciences Price Performance

NASDAQ:CLRB opened at $0.29 on Friday. The firm has a 50 day simple moving average of $0.32 and a 200-day simple moving average of $1.40. The firm has a market cap of $13.40 million, a PE ratio of -0.17 and a beta of 1.05. Cellectar Biosciences has a 1-year low of $0.22 and a 1-year high of $4.45.

Institutional Investors Weigh In On Cellectar Biosciences

A number of institutional investors have recently bought and sold shares of CLRB. Sequoia Financial Advisors LLC purchased a new stake in Cellectar Biosciences in the third quarter valued at approximately $51,000. Rosalind Advisors Inc. grew its holdings in Cellectar Biosciences by 35.7% in the third quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock valued at $7,857,000 after purchasing an additional 965,934 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Cellectar Biosciences in the third quarter valued at approximately $27,000. Geode Capital Management LLC grew its holdings in Cellectar Biosciences by 3.3% in the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after purchasing an additional 11,266 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Cellectar Biosciences by 687.3% in the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 159,234 shares during the period. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

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.