Cellectar Biosciences (NASDAQ:CLRB) Coverage Initiated by Analysts at StockNews.com

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

Several other analysts have also recently issued reports on CLRB. LADENBURG THALM/SH SH started coverage on shares of Cellectar Biosciences in a research note on Thursday, December 5th. They issued a “buy” rating and a $13.00 target price on the stock. Oppenheimer reissued a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th.

Cellectar Biosciences Trading Up 6.3 %

Shares of CLRB stock opened at $0.35 on Friday. The stock has a market capitalization of $14.25 million, a P/E ratio of -0.20 and a beta of 1.04. The firm’s 50 day moving average is $1.23 and its 200 day moving average is $1.88. Cellectar Biosciences has a 12 month low of $0.22 and a 12 month high of $4.45.

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

Hedge Funds Weigh In On Cellectar Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew 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 valued at $754,000 after purchasing an additional 11,266 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Cellectar Biosciences in the 3rd quarter worth $27,000. Sequoia Financial Advisors LLC bought a new stake in Cellectar Biosciences in the 3rd quarter worth $51,000. XTX Topco Ltd grew its holdings in Cellectar Biosciences by 432.4% in the 2nd quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock worth $158,000 after acquiring an additional 51,413 shares during the last quarter. Finally, AIGH Capital Management LLC grew its holdings in 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 worth $7,590,000 after acquiring an additional 231,270 shares during the last quarter. 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.