Cellectar Biosciences (NASDAQ:CLRB) Lifted to “Sell” at StockNews.com

Cellectar Biosciences (NASDAQ:CLRB) was upgraded by analysts at StockNews.com to a “sell” rating in a report released on Tuesday.

Cellectar Biosciences Stock Performance

Shares of CLRB stock traded up $0.03 during mid-day trading on Tuesday, reaching $2.11. 233,655 shares of the company’s stock traded hands, compared to its average volume of 1,039,908. Cellectar Biosciences has a 12 month low of $1.82 and a 12 month high of $4.45. The firm has a 50 day moving average price of $2.20 and a two-hundred day moving average price of $2.89. The firm has a market capitalization of $75.64 million, a PE ratio of -0.69 and a beta of 0.99.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AIGH Capital Management LLC grew its holdings in Cellectar Biosciences by 182.7% during the 4th quarter. AIGH Capital Management LLC now owns 1,915,220 shares of the biopharmaceutical company’s stock valued at $5,305,000 after purchasing an additional 1,237,709 shares during the last quarter. ADAR1 Capital Management LLC purchased a new stake in Cellectar Biosciences during the fourth quarter valued at approximately $3,817,000. Vanguard Group Inc. boosted its position in shares of Cellectar Biosciences by 146.7% in the 1st quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock worth $4,741,000 after purchasing an additional 708,191 shares in the last quarter. Rosalind Advisors Inc. grew its stake in shares of Cellectar Biosciences by 335.4% during the second quarter. Rosalind Advisors Inc. now owns 2,705,616 shares of the biopharmaceutical company’s stock worth $6,764,000 after acquiring an additional 2,084,138 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in shares of Cellectar Biosciences by 432.4% in the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock worth $158,000 after buying an additional 51,413 shares during the last quarter. Institutional investors own 16.41% of the company’s stock.

Cellectar Biosciences Company Profile

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.