Cellectar Biosciences (NASDAQ:CLRB) Now Covered by StockNews.com

Analysts at StockNews.com initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research note issued on Tuesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on CLRB. Oppenheimer reissued 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 target for the company.

Cellectar Biosciences Price Performance

NASDAQ:CLRB opened at $0.39 on Tuesday. The firm has a 50 day simple moving average of $0.29 and a 200-day simple moving average of $1.12. The firm has a market cap of $17.77 million, a PE ratio of -0.22 and a beta of 0.96. Cellectar Biosciences has a 1-year low of $0.22 and a 1-year high of $4.17.

Hedge Funds Weigh In On Cellectar Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of CLRB. Squarepoint Ops LLC acquired a new position in Cellectar Biosciences during the fourth quarter worth approximately $156,000. JPMorgan Chase & Co. grew its stake in 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 during the period. Bank of America Corp DE increased its position in shares of Cellectar Biosciences by 25.3% in the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 41,704 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Cellectar Biosciences in the 3rd quarter valued at $27,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Cellectar Biosciences by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after acquiring an additional 11,266 shares in the last quarter. Institutional investors and hedge funds 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.