Cellectar Biosciences (NASDAQ:CLRB) Upgraded at StockNews.com

StockNews.com upgraded shares of Cellectar Biosciences (NASDAQ:CLRB) to a sell rating in a research report sent to investors on Tuesday.

Cellectar Biosciences Stock Performance

Cellectar Biosciences stock opened at $2.11 on Tuesday. The firm has a market capitalization of $75.64 million, a P/E ratio of -0.69 and a beta of 0.99. The company has a 50-day simple moving average of $2.19 and a 200-day simple moving average of $2.88. Cellectar Biosciences has a one year low of $1.82 and a one year high of $4.45.

Institutional Trading of Cellectar Biosciences

Several large investors have recently added to or reduced their stakes in CLRB. AIGH Capital Management LLC grew its stake in shares of Cellectar Biosciences by 8.2% in the second quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock worth $7,590,000 after purchasing an additional 231,270 shares in the last quarter. Rosalind Advisors Inc. grew its position in Cellectar Biosciences by 335.4% in the 2nd quarter. Rosalind Advisors Inc. now owns 2,705,616 shares of the biopharmaceutical company’s stock valued at $6,764,000 after buying an additional 2,084,138 shares in the last quarter. ADAR1 Capital Management LLC acquired a new position in Cellectar Biosciences during the 4th quarter valued at about $3,817,000. Vanguard Group Inc. raised its position in shares of Cellectar Biosciences by 146.7% during the 1st quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock worth $4,741,000 after buying an additional 708,191 shares in the last quarter. Finally, XTX Topco Ltd lifted its stake in shares of Cellectar Biosciences by 432.4% in the 2nd quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock worth $158,000 after acquiring an additional 51,413 shares during the period. 16.41% of the stock is currently 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.