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

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

Several other equities analysts have also recently weighed in on the company. LADENBURG THALM/SH SH started coverage on Cellectar Biosciences in a research report on Thursday, December 5th. They set a “buy” rating and a $13.00 price objective for the company. Oppenheimer reiterated a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th.

Cellectar Biosciences Stock Performance

CLRB opened at $0.25 on Wednesday. The business has a 50 day moving average price of $0.59 and a 200 day moving average price of $1.58. Cellectar Biosciences has a twelve month low of $0.22 and a twelve month high of $4.45. The firm has a market cap of $10.38 million, a P/E ratio of -0.15 and a beta of 1.04.

Cellectar Biosciences (NASDAQ:CLRB) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. As a group, analysts anticipate that Cellectar Biosciences will post -1.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cellectar Biosciences

A number of institutional investors have recently added to or reduced their stakes in CLRB. Oppenheimer & Co. Inc. bought a new stake in shares of Cellectar Biosciences in the 3rd quarter worth approximately $27,000. Sequoia Financial Advisors LLC acquired a new position in shares of Cellectar Biosciences in the third quarter valued at $51,000. Geode Capital Management LLC lifted its position in Cellectar Biosciences by 3.3% in the third 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 during the period. Finally, Rosalind Advisors Inc. boosted its stake in Cellectar Biosciences by 35.7% during the third quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock worth $7,857,000 after buying an additional 965,934 shares in 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.