StockNews.com Begins Coverage on Cellectar Biosciences (NASDAQ:CLRB)

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

Other analysts have also recently issued research reports about the stock. Maxim Group reduced their price target on shares of Cellectar Biosciences to $1.25 in a research report on Thursday. Zacks Investment Research raised shares of Cellectar Biosciences from a “hold” rating to a “buy” rating and set a $0.50 price target on the stock in a research report on Tuesday, May 24th.

Shares of CLRB stock opened at $0.44 on Friday. The firm has a market cap of $26.88 million, a PE ratio of -1.07 and a beta of 1.58. Cellectar Biosciences has a 1-year low of $0.34 and a 1-year high of $1.84. The company has a 50-day moving average of $0.55 and a two-hundred day moving average of $0.60.

Cellectar Biosciences (NASDAQ:CLRBGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10). As a group, sell-side analysts anticipate that Cellectar Biosciences will post -0.4 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in Cellectar Biosciences in the fourth quarter valued at approximately $25,000. Susquehanna International Group LLP acquired a new stake in Cellectar Biosciences in the fourth quarter valued at approximately $33,000. 1900 Wealth Management LLC raised its holdings in Cellectar Biosciences by 100.0% in 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. Bank of New York Mellon Corp raised its holdings in Cellectar Biosciences by 325.5% in 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. Finally, Morgan Stanley raised its holdings in Cellectar Biosciences by 5,740.6% in the second quarter. Morgan Stanley now owns 129,603 shares of the biopharmaceutical company’s stock valued at $155,000 after acquiring an additional 127,384 shares in the last quarter. 27.54% of the stock is currently owned by hedge funds and other institutional investors.

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.

Read More

Receive News & Ratings for Cellectar Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cellectar Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.