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

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

A number of other brokerages also recently commented on CLRB. Oppenheimer restated a “market perform” rating on shares of Cellectar Biosciences in a research note on Wednesday, December 11th. LADENBURG THALM/SH SH initiated coverage on Cellectar Biosciences in a report on Thursday, December 5th. They issued a “buy” rating and a $13.00 price target for the company.

Cellectar Biosciences Stock Down 2.4 %

Shares of NASDAQ CLRB opened at $0.28 on Monday. Cellectar Biosciences has a 52 week low of $0.22 and a 52 week high of $4.45. The firm has a market cap of $11.35 million, a P/E ratio of -0.16 and a beta of 1.04. The business’s 50 day moving average price is $0.99 and its 200 day moving average price is $1.75.

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

Institutional Investors Weigh In On Cellectar Biosciences

A number of institutional investors have recently modified their holdings of CLRB. Geode Capital Management LLC increased 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 worth $754,000 after acquiring an additional 11,266 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Cellectar Biosciences in the 3rd quarter valued at about $27,000. Rosalind Advisors Inc. boosted its holdings in Cellectar Biosciences by 35.7% in the 3rd quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock worth $7,857,000 after buying an additional 965,934 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Cellectar Biosciences during the third quarter valued at approximately $51,000. Finally, XTX Topco Ltd lifted its position in shares of 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 in the last quarter. 16.41% of the stock is currently 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.