Cellectar Biosciences (NASDAQ:CLRB) Research Coverage Started at StockNews.com

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

Cellectar Biosciences Stock Down 1.8 %

NASDAQ:CLRB opened at $0.29 on Friday. The business’s 50 day moving average is $0.31 and its two-hundred day moving average is $0.74. Cellectar Biosciences has a 52 week low of $0.22 and a 52 week high of $3.51. The company has a market cap of $13.41 million, a PE ratio of -0.17 and a beta of 0.67.

Institutional Trading of Cellectar Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC lifted its holdings in shares of Cellectar Biosciences by 1,301.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 203,260 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 188,760 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Cellectar Biosciences in the 4th quarter worth approximately $156,000. Bank of America Corp DE lifted its holdings in shares of 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 worth $62,000 after purchasing an additional 41,704 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Cellectar Biosciences by 687.3% in 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. Finally, Geode Capital Management LLC lifted its holdings in shares of Cellectar Biosciences by 3.3% in 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. 16.41% of the stock is currently 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.