Cellectar Biosciences (NASDAQ:CLRB) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research report released on Monday. The firm issued a sell rating on the biopharmaceutical company’s stock.

Other equities analysts have also issued reports about the stock. Oppenheimer reiterated a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th. LADENBURG THALM/SH SH started coverage on shares of Cellectar Biosciences in a research report on Thursday, December 5th. They issued a “buy” rating and a $13.00 price objective on the stock.

Cellectar Biosciences Price Performance

NASDAQ:CLRB opened at $0.32 on Monday. The firm’s fifty day moving average price is $0.29 and its 200 day moving average price is $1.19. Cellectar Biosciences has a 1-year low of $0.22 and a 1-year high of $4.17. The firm has a market cap of $14.59 million, a price-to-earnings ratio of -0.18 and a beta of 0.96.

Institutional Investors Weigh In On Cellectar Biosciences

Several institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC purchased a new stake in shares of Cellectar Biosciences during the 4th quarter worth $156,000. Bank of America Corp DE boosted its position in shares of Cellectar Biosciences by 25.3% during 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 in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Cellectar Biosciences by 687.3% during 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of Cellectar Biosciences by 3.3% during 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 in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Cellectar Biosciences during the 3rd quarter worth $27,000. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

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.