Cellectar Biosciences (NASDAQ:CLRB) Now Covered by Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research report issued on Wednesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

CLRB has been the topic of several other research reports. Oppenheimer reissued a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th. LADENBURG THALM/SH SH initiated coverage on shares of Cellectar Biosciences in a research note on Thursday, December 5th. They issued a “buy” rating and a $13.00 target price on the stock.

Cellectar Biosciences Trading Down 1.0 %

Shares of NASDAQ:CLRB opened at $0.36 on Wednesday. The business’s 50 day moving average is $0.30 and its 200-day moving average is $1.06. The firm has a market capitalization of $16.60 million, a PE ratio of -0.21 and a beta of 0.96. Cellectar Biosciences has a 1-year low of $0.22 and a 1-year high of $4.15.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CLRB. Bank of America Corp DE boosted 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 purchasing an additional 41,704 shares in the last quarter. Squarepoint Ops LLC bought a new position in Cellectar Biosciences during the 4th quarter valued at about $156,000. JPMorgan Chase & Co. lifted its holdings in Cellectar Biosciences by 687.3% during the 4th 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 last quarter. Finally, Geode Capital Management LLC boosted its position in Cellectar Biosciences by 3.3% in the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after buying an additional 11,266 shares in the last quarter. 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.