Cellectar Biosciences (NASDAQ:CLRB) Releases Earnings Results, Beats Expectations By $0.50 EPS

Cellectar Biosciences (NASDAQ:CLRB) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($1.41) EPS for the quarter, topping the consensus estimate of ($1.91) by $0.50, Zacks reports.

Cellectar Biosciences Stock Up 1.0%

CLRB stock traded up $0.03 during trading on Friday, hitting $2.90. 67,158 shares of the company’s stock traded hands, compared to its average volume of 210,833. The stock has a market capitalization of $9.26 million, a price-to-earnings ratio of -0.15 and a beta of 0.56. Cellectar Biosciences has a 52 week low of $2.84 and a 52 week high of $61.05. The stock has a fifty day moving average price of $4.55 and a two-hundred day moving average price of $5.98.

Institutional Investors Weigh In On Cellectar Biosciences

A hedge fund recently bought a new stake in Cellectar Biosciences stock. Dimensional Fund Advisors LP bought a new position in Cellectar Biosciences, Inc. (NASDAQ:CLRB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,033 shares of the biopharmaceutical company’s stock, valued at approximately $73,000. Dimensional Fund Advisors LP owned about 0.41% of Cellectar Biosciences as of its most recent SEC filing. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CLRB shares. Weiss Ratings restated a “sell (e+)” rating on shares of Cellectar Biosciences in a report on Wednesday, October 8th. Roth Capital reaffirmed a “buy” rating on shares of Cellectar Biosciences in a report on Thursday, August 14th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cellectar Biosciences presently has a consensus rating of “Hold” and a consensus price target of $375.00.

About Cellectar Biosciences

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.