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

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

A number of other analysts have also issued reports on the company. Oppenheimer restated a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th. LADENBURG THALM/SH SH assumed coverage on Cellectar Biosciences in a research note on Thursday, December 5th. They issued a “buy” rating and a $13.00 price objective for the company.

Cellectar Biosciences Trading Up 1.0 %

NASDAQ CLRB opened at $0.25 on Wednesday. Cellectar Biosciences has a 1 year low of $0.22 and a 1 year high of $4.45. The company has a market cap of $10.38 million, a PE ratio of -0.15 and a beta of 1.04. The stock’s 50-day moving average price is $0.59 and its two-hundred day moving average price is $1.58.

Cellectar Biosciences (NASDAQ:CLRB) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter. Research analysts forecast that Cellectar Biosciences will post -1.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Cellectar Biosciences

Hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC acquired a new position in Cellectar Biosciences in the 3rd quarter worth about $51,000. Rosalind Advisors Inc. grew its stake in shares of Cellectar Biosciences by 35.7% in the 3rd quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock valued at $7,857,000 after buying an additional 965,934 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Cellectar Biosciences in the third quarter worth approximately $27,000. Finally, Geode Capital Management LLC lifted its stake in Cellectar Biosciences by 3.3% in the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after acquiring an additional 11,266 shares during the last quarter. 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.