Cellectar Biosciences (NASDAQ:CLRB) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research note issued to investors on Tuesday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also commented on the stock. Oppenheimer restated a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th. LADENBURG THALM/SH SH assumed coverage on Cellectar Biosciences in a research note on Thursday, December 5th. They set a “buy” rating and a $13.00 price target for the company.

Cellectar Biosciences Stock Performance

Shares of NASDAQ CLRB opened at $0.38 on Tuesday. The firm has a market capitalization of $17.52 million, a P/E ratio of -0.22 and a beta of 0.96. Cellectar Biosciences has a one year low of $0.22 and a one year high of $4.17. The company’s fifty day moving average is $0.29 and its two-hundred day moving average is $1.12.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. acquired a new position in Cellectar Biosciences in the 3rd quarter valued at about $27,000. JPMorgan Chase & Co. raised its stake 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 purchasing an additional 159,234 shares during the last quarter. Bank of America Corp DE raised its stake in 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 during the last quarter. Geode Capital Management LLC raised its stake in Cellectar Biosciences by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after purchasing an additional 11,266 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Cellectar Biosciences in the 4th quarter valued at about $156,000. Institutional investors and hedge funds own 16.41% of the company’s stock.

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.