Cellectar Biosciences (NASDAQ:CLRB) Research Coverage Started at StockNews.com

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

Separately, Zacks Investment Research upgraded shares of Cellectar Biosciences from a “hold” rating to a “buy” rating and set a $0.50 target price for the company in a report on Friday, May 13th.

Shares of Cellectar Biosciences stock opened at $0.36 on Friday. The company has a market capitalization of $22.06 million, a PE ratio of -0.88 and a beta of 1.58. The company has a 50-day simple moving average of $0.56 and a two-hundred day simple moving average of $0.62. Cellectar Biosciences has a one year low of $0.34 and a one year high of $1.84.

Cellectar Biosciences (NASDAQ:CLRBGet Rating) last announced its earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). On average, equities research analysts predict that Cellectar Biosciences will post -0.4 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of Cellectar Biosciences during the fourth quarter valued at about $25,000. Susquehanna International Group LLP acquired a new position in shares of Cellectar Biosciences during the fourth quarter valued at about $33,000. 1900 Wealth Management LLC increased its holdings in shares of Cellectar Biosciences by 100.0% during the first quarter. 1900 Wealth Management LLC now owns 120,000 shares of the biopharmaceutical company’s stock valued at $83,000 after acquiring an additional 60,000 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Cellectar Biosciences during the fourth quarter valued at about $109,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Cellectar Biosciences by 325.5% during the third quarter. Bank of New York Mellon Corp now owns 121,738 shares of the biopharmaceutical company’s stock valued at $113,000 after acquiring an additional 93,129 shares in the last quarter. Hedge funds and other institutional investors own 27.54% 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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