Cellectar Biosciences (NASDAQ:CLRB) Issues Earnings Results

Cellectar Biosciences (NASDAQ:CLRB) announced its quarterly earnings results on Thursday. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.88) by $0.55, FiscalAI reports.

Here are the key takeaways from Cellectar Biosciences’ conference call:

• Cellectar reported positive 12-month follow-on data from CLOVER-WaM for iopofosine I-131 in relapsed/refractory Waldenström’s macroglobulinemia, saying the drug met both the primary and secondary endpoints.
• The study showed strong durability and efficacy, including an 83.6% overall response rate, 61.8% major response rate, median duration of response of 17.8 months, and 98.2% disease control rate.
• The company said it is advancing plans for accelerated approval with the FDA and intends to start a randomized phase III confirmatory trial in late Q4 2026, with the NDA timing potentially following shortly after trial initiation.
• Cellectar completed an oversubscribed financing of up to $140 million, including $35 million upfront and up to $105 million in milestone-based capital, which it says funds operations into Q2 2027 and supports WM development and commercialization efforts.
• The company also reported early progress in its broader pipeline, including the first patient doses in the phase I-B CLR 125 trial in relapsed/refractory triple-negative breast cancer, with initial biodistribution, dosimetry, and efficacy data expected later this year.

Cellectar Biosciences Trading Up 8.8%

Shares of Cellectar Biosciences stock traded up $0.26 during trading on Thursday, hitting $3.20. The stock had a trading volume of 396,553 shares, compared to its average volume of 2,948,113. The business has a fifty day moving average of $2.91 and a two-hundred day moving average of $3.15. Cellectar Biosciences has a fifty-two week low of $2.43 and a fifty-two week high of $20.60.

Institutional Trading of Cellectar Biosciences

Several institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its holdings 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. DRW Securities LLC raised its position in Cellectar Biosciences by 114.2% during the fourth quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 24,089 shares during the period. Geode Capital Management LLC raised its position in Cellectar Biosciences by 15.0% during the fourth quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock valued at $84,000 after buying an additional 3,744 shares during the period. Citadel Advisors LLC acquired a new position in Cellectar Biosciences in the 3rd quarter worth about $104,000. Finally, Dimensional Fund Advisors LP acquired a new position in Cellectar Biosciences in the 3rd quarter worth about $73,000. Institutional investors and hedge funds own 16.41% of the company’s stock.

Analyst Ratings Changes

CLRB has been the subject of a number of analyst reports. Maxim Group upgraded Cellectar Biosciences from a “hold” rating to a “buy” rating in a research report on Tuesday, March 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Monday, April 20th. Finally, Roth Mkm reiterated a “buy” rating and set a $11.00 price target on shares of Cellectar Biosciences in a research report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $11.00.

Cellectar Biosciences Company Profile

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.