Cellectar Biosciences (NASDAQ:CLRB) Raised to “Sell” at StockNews.com

Cellectar Biosciences (NASDAQ:CLRB) was upgraded by analysts at StockNews.com to a “sell” rating in a report released on Thursday.

A number of other equities analysts have also recently weighed in on CLRB. Oppenheimer reissued an “outperform” rating and set a $12.00 price objective (up from $11.00) on shares of Cellectar Biosciences in a report on Thursday. Roth Mkm lifted their price target on shares of Cellectar Biosciences from $20.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday.

Cellectar Biosciences Stock Performance

CLRB traded up $0.35 during trading on Thursday, reaching $3.98. The stock had a trading volume of 1,766,064 shares, compared to its average volume of 1,877,168. The business has a 50-day moving average of $3.68 and a 200-day moving average of $2.95. Cellectar Biosciences has a one year low of $1.30 and a one year high of $4.45. The stock has a market cap of $48.91 million, a PE ratio of -1.22 and a beta of 0.93.

Institutional Investors Weigh In On Cellectar Biosciences

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Cellectar Biosciences by 2.3% during the third quarter. Vanguard Group Inc. now owns 175,884 shares of the biopharmaceutical company’s stock valued at $464,000 after purchasing an additional 3,911 shares during the period. Renaissance Technologies LLC raised its holdings in Cellectar Biosciences by 11.5% during the 2nd quarter. Renaissance Technologies LLC now owns 63,990 shares of the biopharmaceutical company’s stock valued at $125,000 after buying an additional 6,589 shares during the last quarter. State Street Corp boosted its position in Cellectar Biosciences by 4.5% during the 2nd quarter. State Street Corp now owns 157,146 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 6,800 shares during the period. Northern Trust Corp bought a new stake in Cellectar Biosciences in the 4th quarter worth $35,000. Finally, Coastal Bridge Advisors LLC purchased a new position in shares of Cellectar Biosciences in the fourth quarter valued at about $64,000. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

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 pediatric patients with head and neck cancer.