Cellectar Biosciences (NASDAQ:CLRB) Issues Quarterly Earnings Results

Cellectar Biosciences (NASDAQ:CLRB – Get Rating) posted its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10), MarketWatch Earnings reports.

NASDAQ CLRB traded down $0.01 on Wednesday, hitting $0.39. 196 shares of the stock were exchanged, compared to its average volume of 198,383. Cellectar Biosciences has a 52-week low of $0.40 and a 52-week high of $1.84. The company has a market capitalization of $23.68 million, a price-to-earnings ratio of -0.88 and a beta of 1.58. The company’s 50-day moving average price is $0.58 and its two-hundred day moving average price is $0.65.

Several research firms have issued reports on CLRB. StockNews.com began coverage on shares of Cellectar Biosciences in a research report on Thursday, May 5th. They issued a “sell” rating on the stock. Zacks Investment Research cut shares of Cellectar Biosciences from a “buy” rating to a “hold” rating in a research report on Monday, February 14th.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley boosted its stake in shares of Cellectar Biosciences by 346.3% during the 3rd 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 period. Geode Capital Management LLC boosted its stake in shares of Cellectar Biosciences by 11.3% during the 3rd 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 period. Bank of New York Mellon Corp boosted its stake in shares of Cellectar Biosciences by 325.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 121,738 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 93,129 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Cellectar Biosciences during the 4th quarter valued at $109,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Cellectar Biosciences during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 27.54% of the company’s stock.

About Cellectar Biosciences (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.

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