Cellectar Biosciences (NASDAQ:CLRB) Price Target Increased to $28.00 by Analysts at Roth Mkm

Cellectar Biosciences (NASDAQ:CLRB) had its price objective hoisted by investment analysts at Roth Mkm from $20.00 to $28.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock.

Several other research firms have also recently commented on CLRB. StockNews.com raised Cellectar Biosciences to a “sell” rating in a research note on Thursday, December 28th. Oppenheimer reiterated an “outperform” rating and issued a $12.00 price target (up previously from $11.00) on shares of Cellectar Biosciences in a report on Thursday.

Cellectar Biosciences Stock Performance

Shares of CLRB stock traded up $0.28 on Thursday, hitting $3.92. The company had a trading volume of 926,875 shares, compared to its average volume of 1,862,427. The firm has a market cap of $48.18 million, a P/E ratio of -1.20 and a beta of 0.93. The stock’s 50-day moving average is $3.68 and its two-hundred day moving average is $2.95. Cellectar Biosciences has a twelve month low of $1.30 and a twelve month high of $4.45.

Institutional Investors Weigh In On Cellectar Biosciences

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Cellectar Biosciences by 174.6% during the 4th quarter. Vanguard Group Inc. now owns 482,890 shares of the biopharmaceutical company’s stock valued at $1,338,000 after buying an additional 307,006 shares in the last quarter. Coastal Bridge Advisors LLC purchased a new position in shares of Cellectar Biosciences in the 4th quarter worth $64,000. Nantahala Capital Management LLC purchased a new position in shares of Cellectar Biosciences in the 4th quarter worth $3,741,000. Citadel Advisors LLC purchased a new position in shares of Cellectar Biosciences in the 4th quarter worth $191,000. Finally, ADAR1 Capital Management LLC purchased a new position in shares of Cellectar Biosciences in the 4th quarter worth $3,817,000. 16.41% of the stock is currently 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 pediatric patients with head and neck cancer.