Cellectar Biosciences (NASDAQ:CLRB) Announces Quarterly Earnings Results

Cellectar Biosciences (NASDAQ:CLRB) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.88) by $0.55, FiscalAI reports.

Here are the key takeaways from Cellectar Biosciences’ conference call:

• Cellectar reported positive 12-month follow-on data from CLOVER-WaM for iopofosine I-131 in relapsed/refractory Waldenström’s macroglobulinemia, saying the drug met both the primary and secondary endpoints.
• The study showed strong durability and efficacy, including an 83.6% overall response rate, 61.8% major response rate, median duration of response of 17.8 months, and 98.2% disease control rate.
• The company said it is advancing plans for accelerated approval with the FDA and intends to start a randomized phase III confirmatory trial in late Q4 2026, with the NDA timing potentially following shortly after trial initiation.
• Cellectar completed an oversubscribed financing of up to $140 million, including $35 million upfront and up to $105 million in milestone-based capital, which it says funds operations into Q2 2027 and supports WM development and commercialization efforts.
• The company also reported early progress in its broader pipeline, including the first patient doses in the phase I-B CLR 125 trial in relapsed/refractory triple-negative breast cancer, with initial biodistribution, dosimetry, and efficacy data expected later this year.

Cellectar Biosciences Stock Down 3.6%

Shares of NASDAQ:CLRB traded down $0.12 during trading on Friday, reaching $3.08. 136,829 shares of the company’s stock traded hands, compared to its average volume of 687,589. Cellectar Biosciences has a fifty-two week low of $2.43 and a fifty-two week high of $20.60. The company has a 50-day simple moving average of $2.91 and a 200-day simple moving average of $3.15. The firm has a market cap of $13.08 million, a PE ratio of -0.32 and a beta of 0.43.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Cellectar Biosciences in a research note on Monday, April 20th. LADENBURG THALM/SH SH started coverage on Cellectar Biosciences in a research report on Friday. They set a “buy” rating for the company. Maxim Group raised Cellectar Biosciences from a “hold” rating to a “buy” rating in a report on Tuesday, March 10th. Finally, Roth Mkm restated a “buy” rating and issued a $11.00 price objective on shares of Cellectar Biosciences in a research report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cellectar Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Hedge Funds Weigh In On Cellectar Biosciences

Hedge funds have recently bought and sold shares of the business. DRW Securities LLC increased its position in shares of Cellectar Biosciences by 114.2% in the fourth quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 24,089 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of Cellectar Biosciences during the 3rd quarter valued at approximately $104,000. Geode Capital Management LLC grew its stake in Cellectar Biosciences by 15.0% in the 4th quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock valued at $84,000 after acquiring an additional 3,744 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Cellectar Biosciences in the 3rd quarter worth $73,000. Finally, Bank of America Corp DE raised its position in Cellectar Biosciences by 25.3% during the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 41,704 shares during the period. Hedge funds and other institutional investors own 16.41% of the company’s stock.

About Cellectar Biosciences

Cellectar Biosciences, Inc is a clinical‐stage biopharmaceutical company focused on the development of targeted cancer therapies and imaging agents. The company’s proprietary phospholipid drug conjugate (PDC) technology platform is designed to selectively deliver therapeutic and diagnostic payloads to malignant cells while sparing healthy tissue. Through its PDC approach, Cellectar aims to improve the efficacy and safety profile of traditional treatments like chemotherapy and radiotherapy.

Its lead therapeutic candidate, CLR 131, is a radioisotope‐labeled PDC being evaluated in Phase II clinical trials for relapsed or refractory B‐cell malignancies, including multiple myeloma and non‐Hodgkin lymphoma.