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

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

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

Cellectar Biosciences Stock Down 0.6 %

Shares of CLRB opened at $0.25 on Tuesday. The business has a 50-day simple moving average of $0.80 and a two-hundred day simple moving average of $1.67. Cellectar Biosciences has a 12-month low of $0.22 and a 12-month high of $4.45. The stock has a market cap of $10.19 million, a PE ratio of -0.14 and a beta of 1.04.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CLRB. Geode Capital Management LLC raised its stake in Cellectar Biosciences by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock worth $754,000 after buying an additional 11,266 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Cellectar Biosciences in the 3rd quarter valued at $27,000. Sequoia Financial Advisors LLC bought a new stake in Cellectar Biosciences during the 3rd quarter valued at $51,000. XTX Topco Ltd lifted its stake 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 buying an additional 51,413 shares in the last quarter. Finally, Rosalind Advisors Inc. increased its position in shares of Cellectar Biosciences by 35.7% during the third quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock worth $7,857,000 after acquiring an additional 965,934 shares in the last quarter. 16.41% of the stock is owned by institutional investors.

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.