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

StockNews.com began coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a report issued on Monday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Several other equities analysts have also issued reports on CLRB. LADENBURG THALM/SH SH assumed coverage on Cellectar Biosciences in a research note on Thursday, December 5th. They set a “buy” rating and a $13.00 target price on the stock. Oppenheimer reissued a “market perform” rating on shares of Cellectar Biosciences in a research note on Wednesday, December 11th.

Cellectar Biosciences Stock Down 0.9 %

Shares of Cellectar Biosciences stock opened at $0.32 on Monday. Cellectar Biosciences has a 52 week low of $0.22 and a 52 week high of $4.17. The business’s fifty day simple moving average is $0.29 and its 200-day simple moving average is $1.21. The firm has a market cap of $14.52 million, a PE ratio of -0.18 and a beta of 0.96.

Hedge Funds Weigh In On Cellectar Biosciences

Several hedge funds have recently bought and sold shares of CLRB. Squarepoint Ops LLC purchased a new stake in Cellectar Biosciences during the 4th quarter worth about $156,000. JPMorgan Chase & Co. increased its holdings in Cellectar Biosciences by 687.3% during the 4th quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 159,234 shares during the period. Bank of America Corp DE increased its holdings in Cellectar Biosciences by 25.3% during the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 41,704 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Cellectar Biosciences during the 3rd quarter worth about $27,000. Finally, Geode Capital Management LLC increased its holdings in Cellectar Biosciences by 3.3% during the 3rd 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. 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.