Oppenheimer Has Lowered Expectations for Cellectar Biosciences (NASDAQ:CLRB) Stock Price

Cellectar Biosciences (NASDAQ:CLRB) had its price objective lowered by analysts at Oppenheimer from $14.00 to $12.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock.

Separately, StockNews.com upgraded Cellectar Biosciences to a “sell” rating in a report on Thursday, September 26th.

Cellectar Biosciences Stock Down 4.8 %

Shares of NASDAQ CLRB opened at $1.77 on Tuesday. The firm’s 50-day simple moving average is $2.07 and its 200 day simple moving average is $2.43. The stock has a market cap of $71.81 million, a P/E ratio of -0.70 and a beta of 1.00. Cellectar Biosciences has a fifty-two week low of $1.66 and a fifty-two week high of $4.45.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. On average, sell-side analysts anticipate that Cellectar Biosciences will post -1.57 earnings per share for the current fiscal year.

Institutional Trading of Cellectar Biosciences

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings 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 valued at $754,000 after buying an additional 11,266 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Cellectar Biosciences in the 3rd quarter worth $27,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Cellectar Biosciences during the third quarter worth $51,000. XTX Topco Ltd lifted its holdings in shares of Cellectar Biosciences by 432.4% during the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after purchasing an additional 51,413 shares during the last quarter. Finally, AIGH Capital Management LLC boosted its position in shares of Cellectar Biosciences by 8.2% in 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 purchasing an additional 231,270 shares during the period. 16.41% of the stock is currently owned by institutional investors.

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.