Cellectar Biosciences (NASDAQ:CLRB) Share Price Crosses Below 200-Day Moving Average – Should You Sell?

Cellectar Biosciences, Inc. (NASDAQ:CLRB) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.84 and traded as low as $0.28. Cellectar Biosciences shares last traded at $0.30, with a volume of 225,224 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Cellectar Biosciences in a research report on Saturday. They issued a “sell” rating for the company.

Cellectar Biosciences Trading Up 5.6 %

The firm has a market capitalization of $13.78 million, a PE ratio of -0.17 and a beta of 0.67. The stock’s 50 day moving average price is $0.31 and its two-hundred day moving average price is $0.83.

Hedge Funds Weigh In On Cellectar Biosciences

A number of institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of Cellectar Biosciences by 687.3% during the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 159,234 shares during the last quarter. Bank of America Corp DE lifted its holdings in Cellectar Biosciences by 25.3% in the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 41,704 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Cellectar Biosciences by 3.3% in the 3rd 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 in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Cellectar Biosciences during the 4th quarter worth about $156,000. 16.41% of the stock is owned by institutional investors and hedge funds.

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.