Cellectar Biosciences (NASDAQ:CLRB) Given Outperform Rating at Oppenheimer

Cellectar Biosciences (NASDAQ:CLRB)‘s stock had its “outperform” rating reiterated by investment analysts at Oppenheimer in a report released on Friday, Benzinga reports. They presently have a $14.00 target price on the biopharmaceutical company’s stock.

Separately, StockNews.com raised Cellectar Biosciences to a “sell” rating in a research report on Thursday, September 26th.

Cellectar Biosciences Price Performance

CLRB traded up $0.02 during trading hours on Friday, reaching $2.12. The company’s stock had a trading volume of 64,983 shares, compared to its average volume of 964,903. The stock has a market cap of $76.00 million, a PE ratio of -0.69 and a beta of 0.99. Cellectar Biosciences has a fifty-two week low of $1.82 and a fifty-two week high of $4.45. The business’s 50-day moving average is $2.08 and its 200-day moving average is $2.70.

Hedge Funds Weigh In On Cellectar Biosciences

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Cellectar Biosciences by 146.7% during the first quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock worth $4,741,000 after buying an additional 708,191 shares during the period. XTX Topco Ltd boosted its stake in shares of 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 buying an additional 51,413 shares during the period. AIGH Capital Management LLC boosted 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 buying an additional 231,270 shares during the period. Finally, Rosalind Advisors Inc. boosted its stake in shares of Cellectar Biosciences by 335.4% during the second quarter. Rosalind Advisors Inc. now owns 2,705,616 shares of the biopharmaceutical company’s stock worth $6,764,000 after buying an additional 2,084,138 shares during the period. 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.