Cellectar Biosciences (NASDAQ:CLRB) Issues Quarterly Earnings Results

Cellectar Biosciences (NASDAQ:CLRB) announced its earnings results on Thursday. The biopharmaceutical company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.02, FiscalAI reports.

Here are the key takeaways from Cellectar Biosciences’ conference call:

• Cellectar reported encouraging 12-month CLOVER-WaM results for iopofosine I-131, including a 62% major response rate, 17.8-month median duration of response, and deeper responses over time in heavily pretreated Waldenström macroglobulinemia patients.
• Site activation has begun for the planned Phase III confirmatory study, with first patient enrollment expected in late 2026 or early 2027 and an accelerated-approval submission targeted for March–April 2027, subject to having sufficient sites and enrollment underway.
• The company’s $35 million upfront financing, with up to $105 million in milestone-linked proceeds, increased cash and equivalents to approximately $34 million and is intended to fund the WM program through potential commercialization.
• Cellectar is expanding beyond WM through its phospholipid drug-conjugate platform, including the Phase Ib CLR 125 program in triple-negative breast cancer and earlier-stage alpha-emitting CLR 225; initial CLR 125 dosimetry, safety, and efficacy data are expected later this year or early next year.
• Second-quarter R&D expenses rose to $4.6 million from $2.4 million year over year, while the company recorded a $6.9 million net loss; future funding also depends partly on warrant exercises tied to clinical and regulatory milestones and stock-price conditions.

Cellectar Biosciences Price Performance

CLRB traded up $0.09 on Friday, reaching $2.57. 10,087 shares of the stock were exchanged, compared to its average volume of 461,629. The company’s 50-day moving average price is $2.56 and its 200 day moving average price is $2.86. Cellectar Biosciences has a fifty-two week low of $2.20 and a fifty-two week high of $6.52. The firm has a market capitalization of $20.53 million, a PE ratio of -0.39 and a beta of 0.55.

Analyst Ratings Changes

Several equities research analysts have weighed in on CLRB shares. Roth Capital restated a “buy” rating and issued a $11.00 target price on shares of Cellectar Biosciences in a research note on Tuesday, May 5th. Brookline Capital Markets raised Cellectar Biosciences to a “strong-buy” rating in a research report on Sunday, July 12th. Wall Street Zen upgraded Cellectar Biosciences to a “hold” rating in a research note on Saturday, June 20th. LADENBURG THALM/SH SH initiated coverage on Cellectar Biosciences in a research report on Friday, May 15th. They set a “buy” rating on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cellectar Biosciences in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $11.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in Cellectar Biosciences by 15.0% in the fourth quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock valued at $84,000 after buying an additional 3,744 shares during the last quarter. XTX Topco Ltd purchased a new position in Cellectar Biosciences during the 4th quarter worth approximately $36,000. Dimensional Fund Advisors LP acquired a new stake in Cellectar Biosciences during the 3rd quarter valued at approximately $73,000. Citadel Advisors LLC acquired a new stake in Cellectar Biosciences during the 3rd quarter valued at approximately $104,000. Finally, DRW Securities LLC boosted its holdings in shares of Cellectar Biosciences by 114.2% in the 4th quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 24,089 shares during the last quarter. 16.41% of the stock is owned by institutional investors and hedge funds.

About Cellectar Biosciences

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.