Cellectar Biosciences (NASDAQ:CLRB) CEO James Caruso Purchases 8,680 Shares of Stock

Cellectar Biosciences, Inc. (NASDAQ:CLRB) CEO James Caruso purchased 8,680 shares of Cellectar Biosciences stock in a transaction dated Thursday, May 7th. The stock was acquired at an average cost of $2.88 per share, with a total value of $24,998.40. Following the completion of the acquisition, the chief executive officer directly owned 20,318 shares in the company, valued at approximately $58,515.84. This trade represents a 74.58% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cellectar Biosciences Price Performance

CLRB opened at $3.06 on Tuesday. The business has a 50 day simple moving average of $2.91 and a 200-day simple moving average of $3.17. The stock has a market capitalization of $12.97 million, a P/E ratio of -0.32 and a beta of 0.43. Cellectar Biosciences, Inc. has a 12 month low of $2.43 and a 12 month high of $20.60.

Cellectar Biosciences (NASDAQ:CLRB) last posted its quarterly earnings results on Wednesday, March 4th. The biopharmaceutical company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($1.19) by $0.66. Research analysts anticipate that Cellectar Biosciences, Inc. will post -1.84 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CLRB. Roth Mkm reissued a “buy” rating and issued a $11.00 price target on shares of Cellectar Biosciences in a report on Tuesday, May 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cellectar Biosciences in a report on Monday, April 20th. Finally, Maxim Group raised Cellectar Biosciences from a “hold” rating to a “buy” rating in a report on Tuesday, March 10th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.00.

Hedge Funds Weigh In On Cellectar Biosciences

Several hedge funds have recently bought and sold shares of CLRB. Bank of America Corp DE increased its position in 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 worth $62,000 after buying an additional 41,704 shares in the last quarter. DRW Securities LLC increased its position in Cellectar Biosciences by 114.2% during the fourth quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 24,089 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Cellectar Biosciences in the third quarter valued at $104,000. Sequoia Financial Advisors LLC grew its position in shares of Cellectar Biosciences by 135.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 25,350 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 14,567 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Cellectar Biosciences in the third quarter valued at $73,000. Hedge funds and other institutional investors own 16.41% of the company’s stock.

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.