Cellectar Biosciences (NASDAQ:CLRB) Earns Sell Rating from Analysts at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRBGet Rating) in a note issued to investors on Monday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

A number of other research firms have also recently issued reports on CLRB. Oppenheimer cut their price objective on Cellectar Biosciences from $47.00 to $12.00 in a report on Friday, November 4th. HC Wainwright upped their target price on Cellectar Biosciences from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Friday, November 4th. Finally, Maxim Group cut their price target on Cellectar Biosciences to $7.00 in a research note on Tuesday, November 15th.

Cellectar Biosciences Trading Up 4.2 %

Shares of Cellectar Biosciences stock opened at $1.99 on Monday. The business’s fifty day simple moving average is $2.82 and its 200 day simple moving average is $3.94. The firm has a market capitalization of $18.68 million, a P/E ratio of -0.44 and a beta of 1.19. Cellectar Biosciences has a 12 month low of $1.75 and a 12 month high of $8.20.

Institutional Trading of Cellectar Biosciences

Institutional investors have recently added to or reduced their stakes in the company. 1900 Wealth Management LLC bought a new position in Cellectar Biosciences in the third quarter worth approximately $40,000. State Street Corp raised its stake in Cellectar Biosciences by 4.5% in the second quarter. State Street Corp now owns 157,146 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 6,800 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Cellectar Biosciences by 31.3% in the second quarter. Renaissance Technologies LLC now owns 166,500 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 39,700 shares during the last quarter. Worth Venture Partners LLC increased its position in shares of Cellectar Biosciences by 122.8% during the first quarter. Worth Venture Partners LLC now owns 458,245 shares of the biopharmaceutical company’s stock worth $315,000 after purchasing an additional 252,570 shares in the last quarter. Finally, AIGH Capital Management LLC increased its position in shares of Cellectar Biosciences by 104.9% during the first quarter. AIGH Capital Management LLC now owns 1,837,046 shares of the biopharmaceutical company’s stock worth $1,263,000 after purchasing an additional 940,456 shares in the last quarter.

Cellectar Biosciences Company Profile

(Get Rating)

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 in patients with relapsed or refractory (r/r) Waldenstrom's macroglobulinemia and B-cell malignancies; Phase 2B clinical study in r/r multiple myeloma (MM) patients; and Phase I study for various pediatric cancers, r/r head and neck cancers, and R/R MM.

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