Insider Selling: Cellectar Biosciences Inc (CLRB) Insider Sells 13,000 Shares of Stock

Cellectar Biosciences Inc (NASDAQ:CLRB) insider Jarrod Longcor sold 13,000 shares of Cellectar Biosciences stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $1.18, for a total value of $15,340.00. Following the sale, the insider now directly owns 67,000 shares of the company’s stock, valued at approximately $79,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cellectar Biosciences Inc (CLRB) remained flat at $$1.17 on Wednesday. The stock had a trading volume of 322,350 shares, compared to its average volume of 258,626. The stock has a market cap of $18.98, a PE ratio of -1.09 and a beta of 0.75. Cellectar Biosciences Inc has a one year low of $1.06 and a one year high of $2.70.

Several equities research analysts have issued reports on CLRB shares. Zacks Investment Research lowered Cellectar Biosciences from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st. ValuEngine raised Cellectar Biosciences from a “strong sell” rating to a “sell” rating in a research note on Friday, February 2nd.

An institutional investor recently raised its position in Cellectar Biosciences stock. Vanguard Group Inc. lifted its stake in Cellectar Biosciences Inc (NASDAQ:CLRB) by 31.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,208 shares of the biopharmaceutical company’s stock after buying an additional 35,482 shares during the period. Vanguard Group Inc. owned approximately 1.09% of Cellectar Biosciences worth $240,000 as of its most recent SEC filing. Institutional investors and hedge funds own 8.37% of the company’s stock.

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Cellectar Biosciences Company Profile

Cellectar Biosciences, Inc, formerly Novelos Therapeutics, Inc, is a clinical stage biopharmaceutical company. The Company is engaged in developing phospholipid ether-drug conjugates (PDCs) for the treatment and diagnostic imaging of cancer. Its research and development program is based on its PDC cancer targeting delivery platform.

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