Cellectar Biosciences (NASDAQ:CLRB) Coverage Initiated by Analysts at StockNews.com

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

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

Cellectar Biosciences Price Performance

Shares of NASDAQ CLRB opened at $0.29 on Friday. Cellectar Biosciences has a 52 week low of $0.22 and a 52 week high of $4.45. The company’s 50-day moving average price is $0.34 and its 200 day moving average price is $1.42.

Institutional Investors Weigh In On Cellectar Biosciences

Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Cellectar Biosciences by 687.3% during the 4th quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 159,234 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cellectar Biosciences by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock worth $754,000 after purchasing an additional 11,266 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Cellectar Biosciences during the 3rd quarter worth about $27,000. Rosalind Advisors Inc. boosted its stake in shares of Cellectar Biosciences by 35.7% during the 3rd quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock worth $7,857,000 after purchasing an additional 965,934 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Cellectar Biosciences during the 3rd quarter worth about $51,000. 16.41% of the stock is owned by institutional investors and hedge funds.

About Cellectar Biosciences

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.