Cellectar Biosciences (NASDAQ:CLRB) Shares Cross Below Two Hundred Day Moving Average of $3.12

Shares of Cellectar Biosciences, Inc. (NASDAQ:CLRB) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.12 and traded as low as $3.08. Cellectar Biosciences shares last traded at $3.16, with a volume of 963,527 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CLRB shares. Oppenheimer reiterated an “outperform” rating and set a $12.00 price target (up previously from $11.00) on shares of Cellectar Biosciences in a research note on Thursday, March 28th. Roth Mkm increased their price target on Cellectar Biosciences from $20.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, StockNews.com upgraded Cellectar Biosciences to a “sell” rating in a research note on Thursday, March 28th.

Cellectar Biosciences Stock Performance

The firm has a 50 day simple moving average of $3.61 and a 200 day simple moving average of $3.12. The firm has a market cap of $113.29 million, a P/E ratio of -1.02 and a beta of 0.92.

Cellectar Biosciences (NASDAQ:CLRB) last issued its earnings results on Wednesday, March 27th. The biopharmaceutical company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.07). Sell-side analysts predict that Cellectar Biosciences, Inc. will post -1.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CLRB. Acuta Capital Partners LLC bought a new position in Cellectar Biosciences in the 3rd quarter worth about $320,000. Vanguard Group Inc. raised its holdings in shares of Cellectar Biosciences by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 175,884 shares of the biopharmaceutical company’s stock valued at $464,000 after acquiring an additional 3,911 shares in the last quarter. Worth Venture Partners LLC raised its holdings in shares of Cellectar Biosciences by 148.6% in the 4th quarter. Worth Venture Partners LLC now owns 693,909 shares of the biopharmaceutical company’s stock valued at $1,922,000 after acquiring an additional 414,786 shares in the last quarter. AIGH Capital Management LLC raised its holdings in shares of Cellectar Biosciences by 182.7% in the 4th quarter. AIGH Capital Management LLC now owns 1,915,220 shares of the biopharmaceutical company’s stock valued at $5,305,000 after acquiring an additional 1,237,709 shares in the last quarter. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of Cellectar Biosciences in the 4th quarter valued at about $3,817,000. 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 pediatric patients with head and neck cancer.