Cellectar Biosciences (NASDAQ:CLRB) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research report issued to clients and investors on Sunday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

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

Cellectar Biosciences Stock Performance

CLRB stock opened at $0.28 on Friday. Cellectar Biosciences has a one year low of $0.22 and a one year high of $4.45. The firm’s fifty day moving average is $0.28 and its 200 day moving average is $1.27. The firm has a market cap of $12.73 million, a PE ratio of -0.16 and a beta of 1.05.

Hedge Funds Weigh In On Cellectar Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. purchased a new stake in shares of Cellectar Biosciences during the third quarter worth approximately $27,000. JPMorgan Chase & Co. grew its holdings in shares of Cellectar Biosciences by 687.3% during the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 159,234 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Cellectar Biosciences by 25.3% during the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 41,704 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Cellectar Biosciences in the fourth quarter valued at about $156,000. Finally, Geode Capital Management LLC lifted its stake in shares of 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 buying an additional 11,266 shares in the last quarter. Hedge funds and other institutional investors own 16.41% of the company’s stock.

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.