Cellectar Biosciences (NASDAQ:CLRB) Upgraded at Wall Street Zen

Cellectar Biosciences (NASDAQ:CLRB) was upgraded by analysts at Wall Street Zen to a “hold” rating in a report released on Saturday.

A number of other research firms also recently weighed in on CLRB. Roth Mkm reissued a “buy” rating and set a $11.00 price target on shares of Cellectar Biosciences in a research note on Tuesday, May 5th. LADENBURG THALM/SH SH assumed coverage on shares of Cellectar Biosciences in a research report on Friday, May 15th. They set a “buy” rating for the company. Weiss Ratings reaffirmed 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. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cellectar Biosciences currently has an average rating of “Moderate Buy” and an average price target of $11.00.

Cellectar Biosciences Price Performance

CLRB stock opened at $2.79 on Friday. The company has a 50 day moving average price of $2.85 and a 200 day moving average price of $3.07. Cellectar Biosciences has a fifty-two week low of $2.20 and a fifty-two week high of $10.80. The stock has a market capitalization of $22.29 million, a PE ratio of -0.42 and a beta of 0.52.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings results on Thursday, May 14th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.88) by $0.55. As a group, equities analysts expect that Cellectar Biosciences will post -2.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cellectar Biosciences

A number of institutional investors have recently added to or reduced their stakes in CLRB. XTX Topco Ltd acquired a new position in shares of Cellectar Biosciences in the fourth quarter valued at approximately $36,000. DRW Securities LLC boosted its position in Cellectar Biosciences by 114.2% during the 4th quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 24,089 shares during the period. Geode Capital Management LLC grew its holdings in Cellectar Biosciences by 15.0% during the 4th quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock worth $84,000 after acquiring an additional 3,744 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Cellectar Biosciences by 135.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 25,350 shares of the biopharmaceutical company’s stock valued at $75,000 after acquiring an additional 14,567 shares during the period. Finally, Citadel Advisors LLC acquired a new position in shares of Cellectar Biosciences during the third quarter worth $104,000. 16.41% of the stock is currently owned by institutional investors and hedge funds.

Cellectar Biosciences Company Profile

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.