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

Analysts at StockNews.com initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research report issued on Saturday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Several other brokerages 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 for the company. Oppenheimer restated a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th.

Cellectar Biosciences Stock Performance

NASDAQ:CLRB opened at $0.31 on Friday. The company has a market cap of $12.74 million, a PE ratio of -0.18 and a beta of 0.89. The stock has a 50-day simple moving average of $1.41 and a 200 day simple moving average of $1.96. Cellectar Biosciences has a 52-week low of $0.22 and a 52-week high of $4.45.

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

Institutional Investors Weigh In On Cellectar Biosciences

A number of large investors have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. acquired a new position in Cellectar Biosciences in the 3rd quarter valued at $27,000. Sequoia Financial Advisors LLC bought a new position in shares of Cellectar Biosciences in the third quarter worth $51,000. XTX Topco Ltd raised its stake in Cellectar Biosciences by 432.4% in the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after purchasing an additional 51,413 shares in the last quarter. Geode Capital Management LLC raised its stake 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 in the last quarter. Finally, AIGH Capital Management LLC lifted its position in Cellectar Biosciences by 8.2% during the second quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock worth $7,590,000 after purchasing an additional 231,270 shares during the period. Institutional investors and hedge funds own 16.41% of the company’s stock.

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.