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

Analysts at StockNews.com initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a report released on Sunday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Cellectar Biosciences Stock Down 4.4 %

CLRB opened at $0.30 on Friday. Cellectar Biosciences has a 12-month low of $0.22 and a 12-month high of $3.51. The firm has a market capitalization of $13.66 million, a P/E ratio of -0.17 and a beta of 0.67. The stock’s 50 day moving average price is $0.31 and its two-hundred day moving average price is $0.75.

Hedge Funds Weigh In On Cellectar Biosciences

Several institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC grew its position in shares of Cellectar Biosciences by 1,301.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 203,260 shares of the biopharmaceutical company’s stock worth $64,000 after buying an additional 188,760 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Cellectar Biosciences during the 4th quarter worth approximately $156,000. Bank of America Corp DE grew 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 worth $62,000 after buying an additional 41,704 shares during the period. JPMorgan Chase & Co. boosted its stake in Cellectar Biosciences by 687.3% during the 4th quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 159,234 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Cellectar Biosciences by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock worth $754,000 after acquiring an additional 11,266 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.