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

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

A number of other research firms also recently issued reports on CLRB. Oppenheimer reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th. LADENBURG THALM/SH SH initiated coverage on Cellectar Biosciences in a research note on Thursday, December 5th. They set a “buy” rating and a $13.00 price target for the company.

Cellectar Biosciences Trading Up 6.7 %

CLRB stock opened at $0.34 on Tuesday. Cellectar Biosciences has a 1-year low of $0.22 and a 1-year high of $4.17. The stock has a market cap of $15.52 million, a price-to-earnings ratio of -0.20 and a beta of 0.96. The company’s 50 day moving average is $0.29 and its 200 day moving average is $1.14.

Institutional Trading of Cellectar Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. bought a new position in Cellectar Biosciences during the 3rd quarter worth approximately $27,000. Geode Capital Management LLC grew 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 worth $754,000 after purchasing an additional 11,266 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Cellectar Biosciences by 687.3% in 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 raised 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 valued at $62,000 after buying an additional 41,704 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Cellectar Biosciences during the 4th quarter valued at $156,000. 16.41% of the stock is 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.