Cellectar Biosciences’ (CLRB) “Hold” Rating Reiterated at Maxim Group

Maxim Group reissued their hold rating on shares of Cellectar Biosciences (NASDAQ:CLRB) in a report released on Wednesday morning, Marketbeat Ratings reports.

Separately, StockNews.com assumed coverage on shares of Cellectar Biosciences in a report on Tuesday. They issued a “sell” rating on the stock.

Cellectar Biosciences Stock Performance

CLRB opened at $0.25 on Wednesday. Cellectar Biosciences has a twelve month low of $0.22 and a twelve month high of $3.42. The firm’s 50-day simple moving average is $0.29 and its 200-day simple moving average is $0.59. The firm has a market cap of $11.29 million, a price-to-earnings ratio of -0.14 and a beta of 0.48.

Cellectar Biosciences (NASDAQ:CLRB) last released its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.04. As a group, sell-side analysts anticipate that Cellectar Biosciences will post -1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Cellectar Biosciences

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in Cellectar Biosciences by 687.3% in the 4th quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 159,234 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Cellectar Biosciences by 25.3% in the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 41,704 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Cellectar Biosciences in the 4th quarter valued at $156,000. Sequoia Financial Advisors LLC grew its position in Cellectar Biosciences by 1,301.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 203,260 shares of the biopharmaceutical company’s stock valued at $64,000 after purchasing an additional 188,760 shares during the period. Finally, XTX Topco Ltd grew its position in Cellectar Biosciences by 122.6% in the 1st quarter. XTX Topco Ltd now owns 104,323 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 57,447 shares during the period. 16.41% of the stock is currently owned by institutional investors and hedge funds.

About Cellectar Biosciences

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 for patients with B-cell malignancies; Phase 2a clinical study for patients with relapsed or refractory (r/r) Waldenstrom's macroglobulinemia cohort, r/r multiple myeloma (MM) cohort, and r/r non-Hodgkin's lymphoma cohort; Phase 1 clinical study for r/r pediatric patients with select solid tumors, lymphomas, and malignant brain tumors; and Phase 1 clinical study for r/r head and neck cancer.