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

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

A number of other analysts have also commented on 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 began coverage on Cellectar Biosciences in a report on Thursday, December 5th. They set a “buy” rating and a $13.00 price target on the stock.

Cellectar Biosciences Trading Down 5.9 %

CLRB stock opened at $0.29 on Friday. The stock’s 50 day simple moving average is $0.28 and its 200 day simple moving average is $1.34. Cellectar Biosciences has a 12-month low of $0.22 and a 12-month high of $4.45. The stock has a market capitalization of $13.50 million, a PE ratio of -0.17 and a beta of 1.05.

Institutional Investors Weigh In On Cellectar Biosciences

Several institutional investors have recently modified their holdings of CLRB. Squarepoint Ops LLC bought a new position in Cellectar Biosciences in the 4th quarter worth about $156,000. Bank of America Corp DE increased its position in 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 valued at $62,000 after purchasing an additional 41,704 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Cellectar Biosciences by 687.3% in the 4th 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 in the last quarter. Geode Capital Management LLC lifted its position 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 purchasing an additional 11,266 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Cellectar Biosciences during the third quarter valued at approximately $27,000. 16.41% of the stock is owned by institutional investors.

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.