Cellectar Biosciences (NASDAQ:CLRB) Share Price Passes Above 50-Day Moving Average – Time to Sell?

Cellectar Biosciences, Inc. (NASDAQ:CLRB) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.08 and traded as high as $2.17. Cellectar Biosciences shares last traded at $2.13, with a volume of 89,208 shares.

Analysts Set New Price Targets

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

Cellectar Biosciences Trading Up 2.9 %

The firm has a market capitalization of $75.28 million, a price-to-earnings ratio of -0.67 and a beta of 0.99. The stock’s fifty day moving average price is $2.07 and its two-hundred day moving average price is $2.71.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. AIGH Capital Management LLC increased its holdings 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 during the period. Rosalind Advisors Inc. boosted its position in 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 acquiring an additional 2,084,138 shares during the last quarter. ADAR1 Capital Management LLC acquired a new stake in Cellectar Biosciences during the fourth quarter worth about $3,817,000. Vanguard Group Inc. increased its position in Cellectar Biosciences by 146.7% during the 1st quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock worth $4,741,000 after purchasing an additional 708,191 shares in the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Cellectar Biosciences by 432.4% in the 2nd 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 during the period. 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.