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

StockNews.com initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRBGet Rating) in a research report issued on Tuesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Separately, Zacks Investment Research lowered shares of Cellectar Biosciences from a “buy” rating to a “hold” rating in a report on Monday, February 14th.

Shares of Cellectar Biosciences stock opened at $0.63 on Tuesday. The company has a market cap of $38.62 million, a price-to-earnings ratio of -1.44 and a beta of 1.56. The company’s 50 day moving average is $0.58 and its 200 day moving average is $0.69. Cellectar Biosciences has a twelve month low of $0.44 and a twelve month high of $1.84.

Cellectar Biosciences (NASDAQ:CLRBGet Rating) last announced its earnings results on Monday, March 21st. The biopharmaceutical company reported ($0.10) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.10). As a group, equities research analysts predict that Cellectar Biosciences will post -0.38 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. AIGH Capital Management LLC purchased a new stake in shares of Cellectar Biosciences during the fourth quarter worth $596,000. Morgan Stanley lifted its position in Cellectar Biosciences by 346.3% in the third quarter. Morgan Stanley now owns 578,361 shares of the biopharmaceutical company’s stock valued at $535,000 after buying an additional 448,758 shares during the last quarter. Geode Capital Management LLC lifted its position in Cellectar Biosciences by 11.3% in the third quarter. Geode Capital Management LLC now owns 441,883 shares of the biopharmaceutical company’s stock valued at $408,000 after buying an additional 44,713 shares during the last quarter. Citadel Advisors LLC acquired a new position in Cellectar Biosciences in the fourth quarter valued at about $109,000. Finally, Franklin Resources Inc. acquired a new stake in shares of Cellectar Biosciences during the third quarter worth about $132,000. Hedge funds and other institutional investors own 21.92% of the company’s stock.

Cellectar Biosciences Company Profile (Get Rating)

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 in patients with relapsed or refractory (r/r) Waldenstrom's macroglobulinemia and B-cell malignancies; Phase 2B clinical study in r/r multiple myeloma (MM) patients; and Phase I study for various pediatric cancers, r/r head and neck cancers, and R/R MM.

Further Reading

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