Cellectar Biosciences (NASDAQ:CLRB) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a report published on Saturday. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

CLRB has been the subject of a number of other research reports. LADENBURG THALM/SH SH began coverage on Cellectar Biosciences in a report on Thursday, December 5th. They issued a “buy” rating and a $13.00 target price for the company. Oppenheimer reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th.

Cellectar Biosciences Stock Performance

Cellectar Biosciences stock opened at $0.31 on Friday. Cellectar Biosciences has a 52 week low of $0.22 and a 52 week high of $4.45. The stock has a market capitalization of $14.47 million, a P/E ratio of -0.18 and a beta of 1.05. The stock has a fifty day moving average of $0.28 and a 200-day moving average of $1.35.

Institutional Investors Weigh In On Cellectar Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in shares of Cellectar Biosciences by 3.3% in the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after buying an additional 11,266 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Cellectar Biosciences in the third quarter valued at about $27,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Cellectar Biosciences in the third quarter valued at about $51,000. Bank of America Corp DE increased its stake in shares of Cellectar Biosciences by 25.3% in the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 41,704 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Cellectar Biosciences by 687.3% in the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 159,234 shares during the period. Institutional investors and hedge funds own 16.41% of the company’s stock.

About Cellectar Biosciences

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.