Cellectar Biosciences (NASDAQ:CLRB) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research note released on Thursday. The firm issued a sell rating on the biopharmaceutical company’s stock.

CLRB has been the subject of a number of other reports. Oppenheimer reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th. LADENBURG THALM/SH SH began coverage on Cellectar Biosciences in a research report on Thursday, December 5th. They issued a “buy” rating and a $13.00 price objective on the stock.

Cellectar Biosciences Stock Down 9.8 %

CLRB opened at $0.26 on Thursday. The company’s 50-day moving average price is $0.31 and its two-hundred day moving average price is $0.97. Cellectar Biosciences has a twelve month low of $0.22 and a twelve month high of $3.84. The stock has a market cap of $12.18 million, a price-to-earnings ratio of -0.15 and a beta of 0.67.

Institutional Investors Weigh In On Cellectar Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in shares of Cellectar Biosciences by 3.3% during the 3rd 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. 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 acquiring an additional 159,234 shares during the last quarter. Bank of America Corp DE raised its position in Cellectar Biosciences by 25.3% during 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 in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Cellectar Biosciences during the fourth quarter worth about $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.