Oppenheimer Reaffirms “Market Perform” Rating for Cellectar Biosciences (NASDAQ:CLRB)

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

CLRB has been the subject of a number of other reports. 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. StockNews.com upgraded shares of Cellectar Biosciences to a “sell” rating in a report on Thursday, September 26th.

Cellectar Biosciences Stock Performance

CLRB stock traded down $0.98 during midday trading on Wednesday, hitting $0.30. 27,971,701 shares of the company’s stock were exchanged, compared to its average volume of 979,891. The company has a market cap of $12.39 million, a PE ratio of -0.19 and a beta of 0.89. The stock’s fifty day moving average price is $1.90 and its 200-day moving average price is $2.24. Cellectar Biosciences has a one year low of $0.30 and a one year high of $4.45.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Oppenheimer & Co. Inc. purchased a new position in Cellectar Biosciences in the third quarter valued at $27,000. Sequoia Financial Advisors LLC purchased a new position in Cellectar Biosciences during the third quarter worth about $51,000. XTX Topco Ltd raised its stake in Cellectar Biosciences by 432.4% during the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock worth $158,000 after purchasing an additional 51,413 shares during the period. Geode Capital Management LLC raised its stake in Cellectar Biosciences by 3.3% during the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock worth $754,000 after purchasing an additional 11,266 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Cellectar Biosciences by 146.7% in the 1st quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock valued at $4,741,000 after acquiring an additional 708,191 shares during the period. Hedge funds and other institutional investors 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.