Cellectar Biosciences, Inc. (NASDAQ:CLRB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Cellectar Biosciences, Inc. is developing agents to detect, treat and monitor a broad spectrum of cancers. It uses a novel phospholipid ether platform technology as a targeted delivery and retention vehicle. Cellectar Biosciences Inc., formerly known as Novelos Therapeutics, Inc., is headquartered in Madison, Wisconsin. “
Separately, ValuEngine raised Cellectar Biosciences from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st.
Shares of Cellectar Biosciences (NASDAQ:CLRB) traded down $0.01 during trading hours on Tuesday, reaching $1.47. The company had a trading volume of 52,297 shares, compared to its average volume of 399,412. Cellectar Biosciences has a 12 month low of $1.12 and a 12 month high of $3.07.
Cellectar Biosciences (NASDAQ:CLRB) last announced its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.01). equities analysts predict that Cellectar Biosciences will post -0.92 earnings per share for the current fiscal year.
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An institutional investor recently raised its position in Cellectar Biosciences stock. Virtu KCG Holdings LLC grew its position in Cellectar Biosciences, Inc. (NASDAQ:CLRB) by 90.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 64,864 shares of the biopharmaceutical company’s stock after purchasing an additional 30,808 shares during the period. Virtu KCG Holdings LLC owned approximately 0.48% of Cellectar Biosciences worth $106,000 at the end of the most recent quarter. Institutional investors and hedge funds own 2.53% of the company’s stock.
Cellectar Biosciences Company Profile
Cellectar Biosciences, Inc, formerly Novelos Therapeutics, Inc, is a clinical stage biopharmaceutical company. The Company is engaged in developing phospholipid ether-drug conjugates (PDCs) for the treatment and diagnostic imaging of cancer. Its research and development program is based on its PDC cancer targeting delivery platform.
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