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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.36 and traded as low as $0.31. Cellectar Biosciences shares last traded at $0.31, with a volume of 645,337 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CLRB shares. StockNews.com started coverage on Cellectar Biosciences in a research note on Saturday. They set a “sell” rating on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Cellectar Biosciences in a research report on Thursday, December 5th. They set a “buy” rating and a $13.00 price target on the stock. Finally, Oppenheimer restated a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th.

Cellectar Biosciences Stock Performance

The stock has a market capitalization of $14.47 million, a price-to-earnings ratio of -0.18 and a beta of 1.05. The company has a 50 day moving average of $0.28 and a 200 day moving average of $1.34.

Institutional Trading of Cellectar Biosciences

Large investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. acquired a new position in Cellectar Biosciences during the 3rd quarter worth approximately $27,000. Sequoia Financial Advisors LLC acquired a new position in shares of Cellectar Biosciences during the third quarter worth $51,000. JPMorgan Chase & Co. grew 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 worth $55,000 after purchasing an additional 159,234 shares in the last quarter. Bank of America Corp DE increased its holdings in Cellectar Biosciences by 25.3% in the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 41,704 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Cellectar Biosciences in the fourth quarter valued at $156,000. 16.41% of the stock is currently owned by hedge funds and other 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.