Cellectar Biosciences (NASDAQ:CLRB) Issues Quarterly Earnings Results

Cellectar Biosciences (NASDAQ:CLRB) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.05), FiscalAI reports.

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

• Cellectar reported encouraging 12-month CLOVER-WaM results for iopofosine I-131, including a 62% major response rate, 17.8-month median duration of response, and deeper responses over time in heavily pretreated Waldenström macroglobulinemia patients.
• Site activation has begun for the planned Phase III confirmatory study, with first patient enrollment expected in late 2026 or early 2027 and an accelerated-approval submission targeted for March–April 2027, subject to having sufficient sites and enrollment underway.
• The company’s $35 million upfront financing, with up to $105 million in milestone-linked proceeds, increased cash and equivalents to approximately $34 million and is intended to fund the WM program through potential commercialization.
• Cellectar is expanding beyond WM through its phospholipid drug-conjugate platform, including the Phase Ib CLR 125 program in triple-negative breast cancer and earlier-stage alpha-emitting CLR 225; initial CLR 125 dosimetry, safety, and efficacy data are expected later this year or early next year.
• Second-quarter R&D expenses rose to $4.6 million from $2.4 million year over year, while the company recorded a $6.9 million net loss; future funding also depends partly on warrant exercises tied to clinical and regulatory milestones and stock-price conditions.

Cellectar Biosciences Stock Performance

Cellectar Biosciences stock traded down $0.11 during midday trading on Thursday, reaching $2.49. 26,118 shares of the company’s stock were exchanged, compared to its average volume of 464,544. Cellectar Biosciences has a 52 week low of $2.20 and a 52 week high of $6.52. The firm has a market cap of $19.90 million, a price-to-earnings ratio of -0.37 and a beta of 0.55. The stock’s 50-day simple moving average is $2.57 and its 200 day simple moving average is $2.87.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CLRB. Geode Capital Management LLC raised its position in shares of Cellectar Biosciences by 15.0% in the fourth 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 period. XTX Topco Ltd bought a new stake in shares of Cellectar Biosciences during the 4th quarter worth about $36,000. Dimensional Fund Advisors LP bought a new stake in shares of Cellectar Biosciences during the 3rd quarter worth about $73,000. Citadel Advisors LLC acquired a new position in Cellectar Biosciences in the 3rd quarter valued at about $104,000. Finally, DRW Securities LLC grew its stake in Cellectar Biosciences by 114.2% in the 4th 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 last quarter. 16.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Cellectar Biosciences to a “hold” rating in a report on Saturday, June 20th. LADENBURG THALM/SH SH assumed coverage on Cellectar Biosciences in a research report on Friday, May 15th. They set a “buy” rating for the company. Roth Capital restated a “buy” rating and issued a $11.00 price target on shares of Cellectar Biosciences in a research note on Tuesday, May 5th. Brookline Capital Markets raised Cellectar Biosciences to a “strong-buy” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cellectar Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

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.