Cellectar Biosciences (NASDAQ:CLRB) Stock Price Passes Below 200-Day Moving Average of $2.99

Cellectar Biosciences, Inc. (NASDAQ:CLRB) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.99 and traded as low as $2.08. Cellectar Biosciences shares last traded at $2.10, with a volume of 370,412 shares trading hands.

Cellectar Biosciences Stock Performance

The company has a market capitalization of $74.57 million, a P/E ratio of -0.68 and a beta of 0.99. The business’s fifty day simple moving average is $2.25 and its 200-day simple moving average is $2.98.

Hedge Funds Weigh In On Cellectar Biosciences

Several institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd raised its position in shares of Cellectar Biosciences by 432.4% during the 2nd quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after buying an additional 51,413 shares in the last quarter. Worth Venture Partners LLC raised its position in Cellectar Biosciences by 148.6% during the fourth quarter. Worth Venture Partners LLC now owns 693,909 shares of the biopharmaceutical company’s stock valued at $1,922,000 after purchasing an additional 414,786 shares during the period. ADAR1 Capital Management LLC purchased a new stake in Cellectar Biosciences during the fourth quarter valued at approximately $3,817,000. Vanguard Group Inc. lifted its stake in shares of Cellectar Biosciences by 146.7% in the 1st quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock valued at $4,741,000 after purchasing an additional 708,191 shares during the last quarter. Finally, AIGH Capital Management LLC boosted its holdings in shares of Cellectar Biosciences by 182.7% in the 4th quarter. AIGH Capital Management LLC now owns 1,915,220 shares of the biopharmaceutical company’s stock worth $5,305,000 after purchasing an additional 1,237,709 shares during the period. Hedge funds and other institutional investors own 16.41% of the company’s stock.

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.