Cellectar Biosciences (NASDAQ:CLRB) Price Target Raised to $28.00

Cellectar Biosciences (NASDAQ:CLRB) had its price target raised by equities research analysts at Roth Mkm from $20.00 to $28.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock.

A number of other equities analysts also recently commented on CLRB. Oppenheimer reaffirmed an “outperform” rating and set a $12.00 price objective (up from $11.00) on shares of Cellectar Biosciences in a report on Thursday. StockNews.com raised shares of Cellectar Biosciences to a “sell” rating in a report on Thursday, December 28th.

Cellectar Biosciences Price Performance

NASDAQ:CLRB traded up $0.28 during midday trading on Thursday, reaching $3.92. The stock had a trading volume of 926,875 shares, compared to its average volume of 1,862,427. Cellectar Biosciences has a 1-year low of $1.30 and a 1-year high of $4.45. The firm’s fifty day simple moving average is $3.68 and its 200-day simple moving average is $2.95. The stock has a market capitalization of $48.18 million, a P/E ratio of -1.20 and a beta of 0.93.

Institutional Trading of Cellectar Biosciences

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Cellectar Biosciences by 174.6% in the fourth quarter. Vanguard Group Inc. now owns 482,890 shares of the biopharmaceutical company’s stock worth $1,338,000 after purchasing an additional 307,006 shares in the last quarter. Coastal Bridge Advisors LLC acquired a new position in Cellectar Biosciences during the fourth quarter worth $64,000. Nantahala Capital Management LLC acquired a new position in Cellectar Biosciences during the fourth quarter worth $3,741,000. Citadel Advisors LLC acquired a new position in Cellectar Biosciences during the fourth quarter worth $191,000. Finally, ADAR1 Capital Management LLC acquired a new position in Cellectar Biosciences during the fourth quarter worth $3,817,000. 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 pediatric patients with head and neck cancer.