Cellectar Biosciences’ (CLRB) “Market Perform” Rating Reaffirmed at Oppenheimer

Cellectar Biosciences (NASDAQ:CLRB)‘s stock had its “market perform” rating reaffirmed by analysts at Oppenheimer in a research note issued to investors on Wednesday,Benzinga reports.

CLRB has been the topic of a number of other research reports. LADENBURG THALM/SH SH started coverage on shares of Cellectar Biosciences in a report on Thursday, December 5th. They set a “buy” rating and a $13.00 price target on the stock. StockNews.com upgraded shares of Cellectar Biosciences to a “sell” rating in a research report on Thursday, September 26th.

Cellectar Biosciences Stock Down 76.6 %

Shares of Cellectar Biosciences stock traded down $0.98 during trading on Wednesday, reaching $0.30. The company’s stock had a trading volume of 27,971,701 shares, compared to its average volume of 979,891. The business has a 50 day moving average price of $1.90 and a 200-day moving average price of $2.24. Cellectar Biosciences has a 12-month low of $0.30 and a 12-month high of $4.45. The company has a market capitalization of $12.39 million, a P/E ratio of -0.19 and a beta of 0.89.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter. Research analysts predict that Cellectar Biosciences will post -1.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Cellectar Biosciences

A number of institutional investors have recently added to or reduced their stakes in CLRB. Vanguard Group Inc. boosted its stake in Cellectar Biosciences by 146.7% during the 1st quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock worth $4,741,000 after purchasing an additional 708,191 shares during the last quarter. AIGH Capital Management LLC raised its stake in shares of 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 last quarter. XTX Topco Ltd lifted its holdings 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 acquiring an additional 51,413 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Cellectar Biosciences in the third quarter valued at $51,000. Finally, Rosalind Advisors Inc. increased its position in Cellectar Biosciences by 35.7% during the 3rd 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 in the last quarter. 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.