StockNews.com Begins Coverage on Cellectar Biosciences (NASDAQ:CLRB)

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

CLRB has been the subject of a number of other reports. Oppenheimer reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a research note on Wednesday, December 11th. LADENBURG THALM/SH SH began coverage on shares of Cellectar Biosciences in a research note on Thursday, December 5th. They issued a “buy” rating and a $13.00 price objective for the company.

Cellectar Biosciences Stock Down 1.3 %

NASDAQ CLRB opened at $0.24 on Friday. The firm has a market capitalization of $9.70 million, a price-to-earnings ratio of -0.14 and a beta of 0.89. Cellectar Biosciences has a 52 week low of $0.22 and a 52 week high of $4.45. The company has a fifty day moving average of $1.59 and a two-hundred day moving average of $2.07.

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

Institutional Trading of Cellectar Biosciences

Institutional investors have recently bought and sold shares of the stock. Rosalind Advisors Inc. raised its stake in shares of Cellectar Biosciences by 35.7% in the third quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock worth $7,857,000 after purchasing an additional 965,934 shares during the last quarter. AIGH Capital Management LLC increased 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 buying an additional 231,270 shares during the period. XTX Topco Ltd raised its position in Cellectar Biosciences by 432.4% during the 2nd quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock worth $158,000 after buying an additional 51,413 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Cellectar Biosciences during the 3rd quarter valued at approximately $51,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Cellectar Biosciences in the 3rd quarter valued at $27,000. 16.41% of the stock is currently 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.