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

Stock analysts at StockNews.com assumed coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research report issued to clients and investors on Monday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

CLRB has been the topic of several other reports. Oppenheimer reissued a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th. LADENBURG THALM/SH SH assumed coverage on Cellectar Biosciences in a research report on Thursday, December 5th. They issued a “buy” rating and a $13.00 price objective on the stock.

Cellectar Biosciences Price Performance

NASDAQ:CLRB opened at $0.31 on Monday. The business’s 50-day moving average is $0.29 and its two-hundred day moving average is $1.19. Cellectar Biosciences has a 12 month low of $0.22 and a 12 month high of $4.17. The firm has a market capitalization of $14.41 million, a PE ratio of -0.18 and a beta of 0.96.

Institutional Trading of Cellectar Biosciences

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Cellectar Biosciences by 3.3% during the third 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 in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Cellectar Biosciences during the third quarter valued at about $27,000. Bank of America Corp DE grew its stake in shares of Cellectar Biosciences by 25.3% during the fourth 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 in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Cellectar Biosciences by 687.3% during the fourth 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 in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Cellectar Biosciences during the fourth quarter valued at about $156,000. 16.41% of the stock is currently owned by institutional investors and hedge funds.

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.