Cellectar Biosciences (NASDAQ:CLRB) Stock Crosses Below 200 Day Moving Average – What’s Next?

Cellectar Biosciences, Inc. (NASDAQ:CLRB)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.36 and traded as low as $0.31. Cellectar Biosciences shares last traded at $0.31, with a volume of 645,337 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th. StockNews.com initiated coverage on shares of Cellectar Biosciences in a research report on Saturday. They issued a “sell” rating for the company. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Cellectar Biosciences in a research report on Thursday, December 5th. They issued a “buy” rating and a $13.00 price target for the company.

Cellectar Biosciences Stock Down 6.1 %

The stock has a market capitalization of $14.47 million, a PE ratio of -0.18 and a beta of 1.05. The business’s 50-day moving average is $0.28 and its two-hundred day moving average is $1.36.

Institutional Investors Weigh In On Cellectar Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of CLRB. Oppenheimer & Co. Inc. purchased a new stake in Cellectar Biosciences in the third quarter valued at $27,000. Sequoia Financial Advisors LLC acquired a new position in Cellectar Biosciences in the third quarter valued at $51,000. JPMorgan Chase & Co. increased its stake in Cellectar Biosciences by 687.3% in the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 159,234 shares during the period. Bank of America Corp DE increased its stake in Cellectar Biosciences by 25.3% in the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 41,704 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in Cellectar Biosciences in the fourth quarter valued at $156,000. 16.41% of the stock is owned by hedge funds and other institutional investors.

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.