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

StockNews.com initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a report issued on Sunday. The firm issued a sell rating on the biopharmaceutical company’s stock.

Other research analysts also recently issued reports about the stock. LADENBURG THALM/SH SH began coverage on shares of Cellectar Biosciences in a research report on Thursday, December 5th. They set a “buy” rating and a $13.00 price objective on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a research note on Wednesday, December 11th.

Cellectar Biosciences Stock Down 2.3 %

CLRB opened at $0.34 on Friday. The firm has a market capitalization of $14.11 million, a P/E ratio of -0.20 and a beta of 1.04. The stock has a fifty day moving average of $1.20 and a 200-day moving average of $1.85. Cellectar Biosciences has a 12-month low of $0.22 and a 12-month high of $4.45.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Oppenheimer & Co. Inc. acquired a new stake in shares of Cellectar Biosciences in the 3rd quarter valued at $27,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Cellectar Biosciences in the third quarter worth about $51,000. XTX Topco Ltd boosted its stake in shares of 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 acquiring an additional 51,413 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Cellectar Biosciences by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after acquiring an additional 11,266 shares during the last quarter. Finally, AIGH Capital Management LLC raised its stake in shares of 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 valued at $7,590,000 after acquiring an additional 231,270 shares in the last quarter. Institutional investors and hedge funds own 16.41% of the company’s stock.

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.