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

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

A number of other brokerages have also commented on CLRB. LADENBURG THALM/SH SH started coverage on Cellectar Biosciences in a report on Thursday, December 5th. They set a “buy” rating and a $13.00 price objective on the stock. Oppenheimer reiterated a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th.

Cellectar Biosciences Trading Down 1.0 %

CLRB stock opened at $0.36 on Wednesday. The firm has a market cap of $16.60 million, a PE ratio of -0.21 and a beta of 0.96. Cellectar Biosciences has a 1 year low of $0.22 and a 1 year high of $4.15. The company has a fifty day simple moving average of $0.30 and a 200 day simple moving average of $1.06.

Hedge Funds Weigh In On Cellectar Biosciences

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in Cellectar Biosciences by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after buying an additional 11,266 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Cellectar Biosciences by 25.3% in the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 41,704 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Cellectar Biosciences by 687.3% in the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 159,234 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in Cellectar Biosciences during the fourth quarter worth $156,000. 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.