Cellectar Biosciences, Inc. (NASDAQ:CLRB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Cellectar Biosciences, Inc. is developing agents to detect, treat and monitor a broad spectrum of cancers. It uses a novel phospholipid ether platform technology as a targeted delivery and retention vehicle. Cellectar Biosciences Inc., formerly known as Novelos Therapeutics, Inc., is headquartered in Madison, Wisconsin. “

Separately, ValuEngine raised Cellectar Biosciences from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st.

Shares of Cellectar Biosciences (NASDAQ CLRB) traded up 1.17% during midday trading on Tuesday, hitting $1.73. 193,840 shares of the stock were exchanged. The firm’s market capitalization is $24.09 million. The stock’s 50-day moving average price is $1.72 and its 200-day moving average price is $1.73. Cellectar Biosciences has a 1-year low of $1.12 and a 1-year high of $3.07.

Cellectar Biosciences (NASDAQ:CLRB) last announced its quarterly earnings data on Monday, August 14th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.01. On average, analysts forecast that Cellectar Biosciences will post ($0.92) EPS for the current year.

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An institutional investor recently raised its position in Cellectar Biosciences stock. Virtu KCG Holdings LLC increased its position in Cellectar Biosciences, Inc. (NASDAQ:CLRB) by 90.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 64,864 shares of the biopharmaceutical company’s stock after acquiring an additional 30,808 shares during the quarter. Virtu KCG Holdings LLC owned about 0.48% of Cellectar Biosciences worth $106,000 as of its most recent SEC filing. 2.63% of the stock is currently owned by institutional investors and hedge funds.

Cellectar Biosciences Company Profile

Cellectar Biosciences, Inc, formerly Novelos Therapeutics, Inc, is a clinical stage biopharmaceutical company. The Company is engaged in developing phospholipid ether-drug conjugates (PDCs) for the treatment and diagnostic imaging of cancer. Its research and development program is based on its PDC cancer targeting delivery platform.

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