Oppenheimer Issues Pessimistic Forecast for Cellectar Biosciences (NASDAQ:CLRB) Stock Price

Cellectar Biosciences (NASDAQ:CLRB) had its price objective reduced by Oppenheimer from $14.00 to $12.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

Separately, StockNews.com upgraded shares of Cellectar Biosciences to a “sell” rating in a research note on Thursday, September 26th.

Cellectar Biosciences Stock Up 1.3 %

NASDAQ CLRB opened at $1.58 on Tuesday. Cellectar Biosciences has a 52 week low of $1.39 and a 52 week high of $4.45. The business’s fifty day simple moving average is $2.05 and its 200-day simple moving average is $2.40. The firm has a market cap of $65.21 million, a PE ratio of -0.92 and a beta of 1.00.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter. Research analysts expect that Cellectar Biosciences will post -1.57 EPS for the current year.

Institutional Investors Weigh In On Cellectar Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rosalind Advisors Inc. raised 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 purchasing an additional 2,084,138 shares during the last quarter. Vanguard Group Inc. raised its position in Cellectar Biosciences by 146.7% in the first quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock worth $4,741,000 after acquiring an additional 708,191 shares in the last quarter. AIGH Capital Management LLC grew its holdings in Cellectar Biosciences by 8.2% in the second quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock valued at $7,590,000 after purchasing an additional 231,270 shares during the last quarter. XTX Topco Ltd grew its holdings in Cellectar Biosciences by 432.4% in the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after purchasing an additional 51,413 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Cellectar Biosciences during the third quarter valued at $51,000. Hedge funds and other 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.