Cellectar Biosciences (NASDAQ:CLRB) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research note published on Friday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the stock. LADENBURG THALM/SH SH began coverage on shares of Cellectar Biosciences in a report on Thursday, December 5th. They issued a “buy” rating and a $13.00 price target on the stock. Oppenheimer restated a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th.

Cellectar Biosciences Trading Up 3.5 %

Shares of CLRB stock opened at $0.29 on Friday. Cellectar Biosciences has a 1-year low of $0.22 and a 1-year high of $4.45. The firm’s 50-day simple moving average is $0.34 and its 200-day simple moving average is $1.42.

Institutional Trading of Cellectar Biosciences

A number of hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of Cellectar Biosciences by 687.3% during the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 159,234 shares during the period. Geode Capital Management LLC raised its stake in shares of Cellectar Biosciences by 3.3% during the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after purchasing an additional 11,266 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of Cellectar Biosciences during the third quarter valued at approximately $27,000. Rosalind Advisors Inc. raised its stake in shares of Cellectar Biosciences by 35.7% during the third quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock valued at $7,857,000 after purchasing an additional 965,934 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Cellectar Biosciences during the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Cellectar Biosciences Company Profile

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 head and neck cancer.