Cellectar Biosciences (NASDAQ:CLRB) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research report sent to investors on Saturday. The firm issued a sell rating on the biopharmaceutical company’s stock.

Several other analysts also recently issued reports on the company. LADENBURG THALM/SH SH started coverage on Cellectar Biosciences in a research note on Thursday, December 5th. They issued a “buy” rating and a $13.00 price target for the company. Oppenheimer restated a “market perform” rating on shares of Cellectar Biosciences in a research note on Wednesday, December 11th.

Cellectar Biosciences Price Performance

CLRB opened at $0.31 on Friday. The business has a fifty day simple moving average of $0.28 and a 200 day simple moving average of $1.35. The company has a market capitalization of $14.47 million, a PE ratio of -0.18 and a beta of 1.05. Cellectar Biosciences has a 1 year low of $0.22 and a 1 year high of $4.45.

Institutional Trading of Cellectar Biosciences

Institutional investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. bought a new stake in shares of Cellectar Biosciences during the 3rd quarter valued at $27,000. Sequoia Financial Advisors LLC bought a new stake in shares of Cellectar Biosciences during the 3rd quarter valued at $51,000. JPMorgan Chase & Co. lifted its position in shares of Cellectar Biosciences by 687.3% during the 4th 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 period. Bank of America Corp DE lifted its position in shares of Cellectar Biosciences by 25.3% during the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 41,704 shares during the period. Finally, Geode Capital Management LLC lifted 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 acquiring an additional 11,266 shares during the period. 16.41% of the stock is currently owned by 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.