Cellectar Biosciences (CLRB) Expected to Announce Earnings on Wednesday

Cellectar Biosciences (NASDAQ:CLRB) is projected to release its earnings data before the market opens on Wednesday, March 26th. Analysts expect Cellectar Biosciences to post earnings of ($0.38) per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Cellectar Biosciences Trading Up 5.7 %

Shares of CLRB opened at $0.39 on Tuesday. The firm has a fifty day simple moving average of $0.29 and a two-hundred day simple moving average of $1.08. The firm has a market cap of $17.98 million, a PE ratio of -0.23 and a beta of 0.96. Cellectar Biosciences has a 1-year low of $0.22 and a 1-year high of $4.17.

Institutional Investors Weigh In On Cellectar Biosciences

An institutional investor recently raised its position in Cellectar Biosciences stock. Bank of America Corp DE grew its stake in Cellectar Biosciences, Inc. (NASDAQ:CLRB) by 25.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,783 shares of the biopharmaceutical company’s stock after buying an additional 41,704 shares during the quarter. Bank of America Corp DE owned approximately 0.45% of Cellectar Biosciences worth $62,000 as of its most recent SEC filing. Institutional investors own 16.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. 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 price target for the company. Finally, StockNews.com began coverage on shares of Cellectar Biosciences in a research note on Tuesday, March 18th. They issued a “sell” rating on the 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.