Cellectar Biosciences (NASDAQ:CLRB) Earns Sell Rating from Analysts at StockNews.com

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

Cellectar Biosciences Stock Up 5.6 %

CLRB stock opened at $0.30 on Friday. The firm’s fifty day simple moving average is $0.31 and its two-hundred day simple moving average is $0.84. The stock has a market capitalization of $13.78 million, a price-to-earnings ratio of -0.17 and a beta of 0.67. Cellectar Biosciences has a twelve month low of $0.22 and a twelve month high of $3.51.

Institutional Trading of Cellectar Biosciences

Several institutional investors have recently added to or reduced their stakes in CLRB. Squarepoint Ops LLC bought a new position in shares of Cellectar Biosciences during the fourth quarter valued at approximately $156,000. Geode Capital Management LLC boosted 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 valued at $754,000 after acquiring an additional 11,266 shares during the period. Bank of America Corp DE grew its position in Cellectar Biosciences by 25.3% in the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 41,704 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in 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 purchasing an additional 159,234 shares during the period. Institutional investors own 16.41% of the company’s stock.

Cellectar Biosciences Company Profile

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.