Cellectar Biosciences, Inc. (NASDAQ:CLRB) Receives Average Rating of “Moderate Buy” from Analysts

Cellectar Biosciences, Inc. (NASDAQ:CLRB) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $11.00.

A number of research analysts recently commented on the company. Roth Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Cellectar Biosciences in a report on Tuesday, May 5th. Brookline Capital Markets raised Cellectar Biosciences to a “strong-buy” rating in a research note on Sunday, July 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Friday. Wall Street Zen raised Cellectar Biosciences to a “hold” rating in a research note on Saturday, June 20th. Finally, LADENBURG THALM/SH SH started coverage on Cellectar Biosciences in a report on Friday, May 15th. They set a “buy” rating for the company.

Cellectar Biosciences Trading Up 0.4%

Cellectar Biosciences stock opened at $2.52 on Tuesday. Cellectar Biosciences has a 12-month low of $2.20 and a 12-month high of $6.52. The stock has a market cap of $20.13 million, a P/E ratio of -0.38 and a beta of 0.55. The company has a 50-day moving average price of $2.75 and a 200 day moving average price of $2.98.

Cellectar Biosciences (NASDAQ:CLRB) last posted its earnings results on Thursday, May 14th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, beating the consensus estimate of ($1.88) by $0.55. As a group, analysts forecast that Cellectar Biosciences will post -2.34 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in shares of Cellectar Biosciences in the 4th quarter valued at approximately $36,000. Dimensional Fund Advisors LP purchased a new position in shares of Cellectar Biosciences during the 3rd quarter worth approximately $73,000. Citadel Advisors LLC purchased a new position in shares of Cellectar Biosciences during the 3rd quarter worth approximately $104,000. Sequoia Financial Advisors LLC increased its holdings in Cellectar Biosciences by 135.1% in the 4th 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 last quarter. Finally, Geode Capital Management LLC increased its holdings in Cellectar Biosciences by 15.0% in the 4th quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock valued at $84,000 after purchasing an additional 3,744 shares during the last quarter. 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.