Cellectar Biosciences (NASDAQ:CLRB) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a report released on Friday. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Several other analysts also recently weighed in on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th. LADENBURG THALM/SH SH assumed coverage on shares of Cellectar Biosciences in a report on Thursday, December 5th. They issued a “buy” rating and a $13.00 target price on the stock.

Cellectar Biosciences Stock Performance

Shares of Cellectar Biosciences stock opened at $0.29 on Friday. Cellectar Biosciences has a 1 year low of $0.22 and a 1 year high of $4.45. The company has a market capitalization of $13.40 million, a P/E ratio of -0.17 and a beta of 1.05. The company’s fifty day moving average is $0.32 and its two-hundred day moving average is $1.40.

Institutional Trading of Cellectar Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in CLRB. Rosalind Advisors Inc. lifted its stake in shares of Cellectar Biosciences by 35.7% in the third quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock valued at $7,857,000 after purchasing an additional 965,934 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Cellectar Biosciences by 687.3% in the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 159,234 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Cellectar Biosciences in the third quarter valued at about $51,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Cellectar Biosciences in the third quarter valued at about $27,000. Finally, Geode Capital Management LLC lifted its stake in shares of Cellectar Biosciences by 3.3% in the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after purchasing an additional 11,266 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.