Cellectar Biosciences (NASDAQ:CLRB) Stock Passes Below 200-Day Moving Average – What’s Next?

Cellectar Biosciences, Inc. (NASDAQ:CLRB) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.01 and traded as low as $3.15. Cellectar Biosciences shares last traded at $3.2720, with a volume of 19,166 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cellectar Biosciences in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Cellectar Biosciences Stock Performance

The business has a 50-day moving average of $3.28 and a two-hundred day moving average of $4.01. The company has a market cap of $13.87 million, a P/E ratio of -0.35 and a beta of 0.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.77 and a quick ratio of 2.77.

Cellectar Biosciences (NASDAQ:CLRB) last announced its earnings results on Thursday, November 13th. The biopharmaceutical company reported ($1.41) EPS for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.50. On average, sell-side analysts predict that Cellectar Biosciences, Inc. will post -1.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Cellectar Biosciences

A number of large investors have recently made changes to their positions in CLRB. Bank of America Corp DE boosted its position in shares of Cellectar Biosciences by 25.3% in the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 41,704 shares in the last quarter. Riverview Capital Advisers LLC purchased a new stake in Cellectar Biosciences in the second quarter valued at about $75,000. Sequoia Financial Advisors LLC acquired a new stake in Cellectar Biosciences in the third quarter worth about $60,000. Dimensional Fund Advisors LP purchased a new stake in shares of Cellectar Biosciences during the third quarter worth about $73,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Cellectar Biosciences during the third quarter worth about $104,000. 16.41% of the stock is owned by institutional investors and hedge funds.

Cellectar Biosciences Company Profile

Cellectar Biosciences, Inc is a clinical‐stage biopharmaceutical company focused on the development of targeted cancer therapies and imaging agents. The company’s proprietary phospholipid drug conjugate (PDC) technology platform is designed to selectively deliver therapeutic and diagnostic payloads to malignant cells while sparing healthy tissue. Through its PDC approach, Cellectar aims to improve the efficacy and safety profile of traditional treatments like chemotherapy and radiotherapy.

Its lead therapeutic candidate, CLR 131, is a radioisotope‐labeled PDC being evaluated in Phase II clinical trials for relapsed or refractory B‐cell malignancies, including multiple myeloma and non‐Hodgkin lymphoma.