Cellectar Biosciences (CLRB) to Release Quarterly Earnings on Thursday

Cellectar Biosciences (NASDAQ:CLRB) is expected to be issuing its quarterly earnings data before the market opens on Thursday, March 13th. Analysts expect the company to announce earnings of ($0.38) per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Cellectar Biosciences Stock Performance

NASDAQ:CLRB opened at $0.31 on Wednesday. The company has a fifty day moving average of $0.29 and a two-hundred day moving average of $1.19. The stock has a market capitalization of $14.41 million, a PE ratio of -0.18 and a beta of 0.96. Cellectar Biosciences has a fifty-two week low of $0.22 and a fifty-two week high of $4.17.

Institutional Investors Weigh In On Cellectar Biosciences

An institutional investor recently raised its position in Cellectar Biosciences stock. Bank of America Corp DE lifted its position in Cellectar Biosciences, Inc. (NASDAQ:CLRB) by 25.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 206,783 shares of the biopharmaceutical company’s stock after purchasing an additional 41,704 shares during the quarter. Bank of America Corp DE owned about 0.45% of Cellectar Biosciences worth $62,000 at the end of the most recent reporting period. 16.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Cellectar Biosciences in a research report on Monday. They issued a “sell” rating for the company. Oppenheimer reiterated a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Cellectar Biosciences in a research report on Thursday, December 5th. They issued a “buy” rating and a $13.00 target price for the company.

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.