Jarrod Longcor Purchases 8,680 Shares of Cellectar Biosciences (NASDAQ:CLRB) Stock

Cellectar Biosciences, Inc. (NASDAQ:CLRB) COO Jarrod Longcor bought 8,680 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was bought at an average cost of $2.88 per share, for a total transaction of $24,998.40. Following the completion of the acquisition, the chief operating officer directly owned 20,451 shares of the company’s stock, valued at approximately $58,898.88. This represents a 73.74% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Cellectar Biosciences Price Performance

CLRB stock opened at $2.92 on Wednesday. Cellectar Biosciences, Inc. has a 1-year low of $2.43 and a 1-year high of $20.60. The business has a fifty day moving average price of $2.90 and a 200-day moving average price of $3.16. The stock has a market capitalization of $12.38 million, a P/E ratio of -0.31 and a beta of 0.43.

Cellectar Biosciences (NASDAQ:CLRB) last posted its quarterly earnings data on Wednesday, March 4th. The biopharmaceutical company reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.66. As a group, analysts anticipate that Cellectar Biosciences, Inc. will post -1.84 earnings per share for the current year.

Institutional Investors Weigh In On Cellectar Biosciences

Several large investors have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in shares of Cellectar Biosciences in the fourth quarter valued at approximately $36,000. DRW Securities LLC lifted its stake in Cellectar Biosciences by 114.2% during the fourth quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 24,089 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 worth $84,000 after purchasing an additional 3,744 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Cellectar Biosciences by 135.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 25,350 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 14,567 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in Cellectar Biosciences during the third quarter worth $104,000. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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