Maxim Group Lowers Cellectar Biosciences (NASDAQ:CLRB) Price Target to $7.00

Cellectar Biosciences (NASDAQ:CLRBGet Rating) had its target price dropped by equities research analysts at Maxim Group to $7.00 in a research report issued on Tuesday, Stock Target Advisor reports. Maxim Group’s target price would suggest a potential upside of 264.58% from the stock’s current price.

A number of other brokerages have also recently issued reports on CLRB. StockNews.com assumed coverage on Cellectar Biosciences in a report on Sunday. They issued a “sell” rating on the stock. HC Wainwright increased their target price on Cellectar Biosciences from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Friday, November 4th. Finally, Oppenheimer cut their target price on Cellectar Biosciences from $47.00 to $12.00 in a report on Friday, November 4th.

Cellectar Biosciences Stock Up 1.6 %

Shares of CLRB opened at $1.92 on Tuesday. Cellectar Biosciences has a 12-month low of $1.75 and a 12-month high of $8.42. The business’s fifty day moving average is $2.94 and its 200 day moving average is $3.99. The stock has a market cap of $18.02 million, a P/E ratio of -0.43 and a beta of 1.19.

Institutional Investors Weigh In On Cellectar Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. 1900 Wealth Management LLC purchased a new stake in Cellectar Biosciences in the 3rd quarter valued at $40,000. State Street Corp raised its position in Cellectar Biosciences by 4.5% in the 2nd quarter. State Street Corp now owns 157,146 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 6,800 shares during the last quarter. Renaissance Technologies LLC raised its position in Cellectar Biosciences by 31.3% in the 2nd quarter. Renaissance Technologies LLC now owns 166,500 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 39,700 shares during the last quarter. Worth Venture Partners LLC raised its position in Cellectar Biosciences by 122.8% in the 1st quarter. Worth Venture Partners LLC now owns 458,245 shares of the biopharmaceutical company’s stock valued at $315,000 after buying an additional 252,570 shares during the last quarter. Finally, AIGH Capital Management LLC increased its position in shares of Cellectar Biosciences by 104.9% during the 1st quarter. AIGH Capital Management LLC now owns 1,837,046 shares of the biopharmaceutical company’s stock valued at $1,263,000 after purchasing an additional 940,456 shares during the last quarter.

Cellectar Biosciences Company Profile

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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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