Cellectar Biosciences (NASDAQ:CLRB) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research note released on Sunday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Cellectar Biosciences Price Performance

Shares of Cellectar Biosciences stock opened at $0.29 on Friday. The business’s fifty day moving average price is $0.31 and its two-hundred day moving average price is $0.74. The company has a market capitalization of $13.41 million, a P/E ratio of -0.17 and a beta of 0.67. Cellectar Biosciences has a 1-year low of $0.22 and a 1-year high of $3.51.

Institutional Trading of Cellectar Biosciences

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in Cellectar Biosciences by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after acquiring an additional 11,266 shares in the last quarter. Bank of America Corp DE raised its stake in Cellectar Biosciences by 25.3% during the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 41,704 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Cellectar Biosciences by 687.3% in the 4th quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 159,234 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Cellectar Biosciences by 1,301.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 203,260 shares of the biopharmaceutical company’s stock worth $64,000 after buying an additional 188,760 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Cellectar Biosciences in the 4th quarter worth $156,000. Institutional investors 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.