Equities research analysts at StockNews.com initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRB – Get Free Report) in a research report issued on Wednesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.
Separately, Oppenheimer dropped their price objective on Cellectar Biosciences from $11.00 to $10.00 in a research report on Friday, May 5th.
Cellectar Biosciences Stock Up 3.5 %
Shares of CLRB stock opened at $1.78 on Wednesday. Cellectar Biosciences has a fifty-two week low of $1.25 and a fifty-two week high of $6.76. The stock has a market cap of $17.34 million, a P/E ratio of -0.47 and a beta of 1.25. The business has a fifty day simple moving average of $1.75 and a 200-day simple moving average of $1.64.
Institutional Trading of Cellectar Biosciences
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLRB. State Street Corp boosted its stake in Cellectar Biosciences by 4.5% in the 2nd quarter. State Street Corp now owns 157,146 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 6,800 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Cellectar Biosciences by 31.3% in the 2nd quarter. Renaissance Technologies LLC now owns 166,500 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 39,700 shares during the last quarter. Worth Venture Partners LLC boosted its stake in Cellectar Biosciences by 122.8% in the 1st quarter. Worth Venture Partners LLC now owns 458,245 shares of the biopharmaceutical company’s stock worth $315,000 after buying an additional 252,570 shares during the last quarter. Finally, AIGH Capital Management LLC boosted its stake in Cellectar Biosciences by 434.3% in the 4th quarter. AIGH Capital Management LLC now owns 931,888 shares of the biopharmaceutical company’s stock worth $1,594,000 after buying an additional 757,466 shares during the last quarter. Hedge funds and other institutional investors own 17.59% 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 pediatric patients with head and neck cancer.
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