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

Analysts at StockNews.com started coverage on shares of Cellectar Biosciences (NASDAQ:CLRB – Get Rating) in a report issued on Wednesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Separately, Oppenheimer cut their target price on Cellectar Biosciences from $11.00 to $10.00 in a research note on Friday, May 5th.

Cellectar Biosciences Stock Up 5.5 %

Shares of CLRB stock opened at $1.53 on Wednesday. The stock has a market cap of $14.90 million, a price-to-earnings ratio of -0.40 and a beta of 1.18. The business’s fifty day moving average is $1.47 and its 200 day moving average is $1.62. Cellectar Biosciences has a twelve month low of $1.25 and a twelve month high of $6.76.

Cellectar Biosciences (NASDAQ:CLRB – Get Rating) last issued its quarterly earnings results on Thursday, March 9th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.28. Equities research analysts expect that Cellectar Biosciences will post -2.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cellectar Biosciences

Several institutional investors have recently modified their holdings of the business. AIGH Capital Management LLC boosted its position in shares of Cellectar Biosciences by 434.3% during the fourth quarter. AIGH Capital Management LLC now owns 931,888 shares of the biopharmaceutical company’s stock valued at $1,594,000 after buying an additional 757,466 shares during the last quarter. Worth Venture Partners LLC boosted 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 valued at $315,000 after buying an additional 252,570 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Cellectar Biosciences by 31.3% during the second quarter. Renaissance Technologies LLC now owns 166,500 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 39,700 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Cellectar Biosciences by 4.5% during the second quarter. State Street Corp now owns 157,146 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 6,800 shares during the last quarter. 23.23% of the stock is owned by hedge funds and other institutional investors.

Cellectar Biosciences Company Profile

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Cellectar Biosciences, Inc engages in the development of phospholipid drug conjugates (PDCs) for the treatment and imaging of cancer. Its portfolio includes CLR 131, which seeks to treat relapse or refractory multiple myeloma, CLR 125, which intends to treat micro metastatic disease, CLR 124 which could detect tumors and metastases in a broad range of cancers and CLR 1502, a cancer-targeting near-infrared-fluorophore optical imaging PDC for intraoperative tumor and tumor margin illumination.