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

StockNews.com started coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research note issued on Thursday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

CLRB has been the subject of several other reports. LADENBURG THALM/SH SH started coverage on shares of Cellectar Biosciences in a research note on Thursday, December 5th. They issued a “buy” rating and a $13.00 target price for the company. Oppenheimer reissued a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th.

Cellectar Biosciences Stock Performance

Shares of NASDAQ CLRB opened at $0.26 on Thursday. The stock has a 50 day moving average price of $0.31 and a 200 day moving average price of $0.98. The stock has a market capitalization of $12.18 million, a PE ratio of -0.15 and a beta of 0.67. Cellectar Biosciences has a 52 week low of $0.22 and a 52 week high of $3.84.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CLRB. JPMorgan Chase & Co. increased its holdings in shares of Cellectar Biosciences by 687.3% in the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 159,234 shares during the last quarter. Bank of America Corp DE grew its stake 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 buying an additional 41,704 shares during the last quarter. Squarepoint Ops LLC bought a new position in Cellectar Biosciences in the 4th quarter valued at about $156,000. Finally, Geode Capital Management LLC lifted its position in Cellectar Biosciences by 3.3% during the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock worth $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.