Cellectar Biosciences (NASDAQ:CLRB) Upgraded to “Sell” at StockNews.com

StockNews.com upgraded shares of Cellectar Biosciences (NASDAQ:CLRB) to a sell rating in a research note released on Tuesday.

Cellectar Biosciences Trading Up 1.4 %

Shares of CLRB opened at $2.11 on Tuesday. The firm has a market capitalization of $75.64 million, a P/E ratio of -0.69 and a beta of 0.99. The stock’s fifty day simple moving average is $2.20 and its 200 day simple moving average is $2.89. Cellectar Biosciences has a twelve month low of $1.82 and a twelve month high of $4.45.

Hedge Funds Weigh In On Cellectar Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of CLRB. XTX Topco Ltd lifted its position 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 buying an additional 51,413 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Cellectar Biosciences by 146.7% during the 1st quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock valued at $4,741,000 after acquiring an additional 708,191 shares in the last quarter. ADAR1 Capital Management LLC purchased a new stake in Cellectar Biosciences during the 4th quarter worth $3,817,000. AIGH Capital Management LLC increased its holdings in Cellectar Biosciences by 182.7% in the 4th quarter. AIGH Capital Management LLC now owns 1,915,220 shares of the biopharmaceutical company’s stock valued at $5,305,000 after purchasing an additional 1,237,709 shares in the last quarter. Finally, Rosalind Advisors Inc. lifted its stake in shares of Cellectar Biosciences by 335.4% during the second quarter. Rosalind Advisors Inc. now owns 2,705,616 shares of the biopharmaceutical company’s stock worth $6,764,000 after purchasing an additional 2,084,138 shares in the last quarter. 16.41% of the stock is owned by institutional investors and hedge funds.

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.