Cellectar Biosciences (NASDAQ:CLRB) Now Covered by LADENBURG THALM/SH SH

LADENBURG THALM/SH SH began coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research report released on Thursday. The firm issued a buy rating and a $13.00 price target on the biopharmaceutical company’s stock.

Several other research analysts have also recently weighed in on CLRB. StockNews.com upgraded Cellectar Biosciences to a “sell” rating in a report on Thursday, September 26th. Oppenheimer lowered their target price on Cellectar Biosciences from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th.

Cellectar Biosciences Trading Down 7.5 %

CLRB stock opened at $1.36 on Thursday. Cellectar Biosciences has a 12-month low of $1.36 and a 12-month high of $4.45. The stock has a market cap of $56.13 million, a price-to-earnings ratio of -0.79 and a beta of 0.89. The business’s 50-day moving average is $1.93 and its 200 day moving average is $2.27.

Cellectar Biosciences (NASDAQ:CLRB) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. As a group, equities analysts forecast that Cellectar Biosciences will post -1.53 EPS for the current fiscal year.

Institutional Trading of Cellectar Biosciences

Several institutional investors have recently made changes to their positions in CLRB. Rosalind Advisors Inc. raised its position in shares of Cellectar Biosciences by 35.7% during 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 during the period. 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 valued at $4,741,000 after buying an additional 708,191 shares during the period. AIGH Capital Management LLC raised its position in shares of Cellectar Biosciences by 8.2% during the 2nd quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock valued at $7,590,000 after buying an additional 231,270 shares during the period. 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 during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Cellectar Biosciences during the 3rd quarter valued at approximately $51,000. 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.