StockNews.com Begins Coverage on Cellectar Biosciences (NASDAQ:CLRB)

Stock analysts at StockNews.com started coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research report issued to clients and investors on Sunday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Other research analysts have also issued reports about the company. Oppenheimer reissued a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th. LADENBURG THALM/SH SH began coverage on shares of Cellectar Biosciences in a research note on Thursday, December 5th. They set a “buy” rating and a $13.00 target price on the stock.

Cellectar Biosciences Stock Up 1.3 %

Cellectar Biosciences stock opened at $0.35 on Friday. The firm has a 50-day moving average price of $1.23 and a two-hundred day moving average price of $1.87. Cellectar Biosciences has a 52-week low of $0.22 and a 52-week high of $4.45. The firm has a market capitalization of $14.44 million, a price-to-earnings ratio of -0.20 and a beta of 1.04.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter. Research analysts expect that Cellectar Biosciences will post -1.59 earnings per share for the current year.

Hedge Funds Weigh In On Cellectar Biosciences

Several institutional investors have recently bought and sold shares of CLRB. Rosalind Advisors Inc. grew its holdings in Cellectar Biosciences by 35.7% during 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 last quarter. AIGH Capital Management LLC grew its stake in 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 buying an additional 231,270 shares during the last quarter. XTX Topco Ltd raised its holdings in Cellectar Biosciences by 432.4% in the 2nd quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock worth $158,000 after acquiring an additional 51,413 shares during the period. Sequoia Financial Advisors LLC bought a new position in Cellectar Biosciences in the 3rd quarter worth $51,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Cellectar Biosciences during the 3rd quarter worth $27,000. 16.41% of the stock is currently owned by institutional investors.

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.