Cellectar Biosciences, Inc. (NASDAQ:CLRB) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Cellectar Biosciences, Inc. (NASDAQ:CLRB) have received a consensus recommendation of “Hold” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $390.00.

Several equities analysts have recently weighed in on CLRB shares. Roth Capital reiterated a “buy” rating on shares of Cellectar Biosciences in a research report on Thursday, August 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cellectar Biosciences in a research note on Wednesday, October 8th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. XTX Topco Ltd lifted its position in shares of Cellectar Biosciences by 122.6% during the first quarter. XTX Topco Ltd now owns 104,323 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 57,447 shares during the last quarter. Simplex Trading LLC grew its position in Cellectar Biosciences by 331.3% during the first quarter. Simplex Trading LLC now owns 173,129 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 132,986 shares during the period. Baader Bank Aktiengesellschaft purchased a new stake in shares of Cellectar Biosciences during the 1st quarter worth about $55,000. Sequoia Financial Advisors LLC acquired a new position in Cellectar Biosciences in the 3rd quarter worth about $60,000. Finally, Bank of America Corp DE increased its position in shares of Cellectar Biosciences by 25.3% in the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 41,704 shares in the last quarter. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Cellectar Biosciences Stock Performance

CLRB opened at $2.86 on Friday. Cellectar Biosciences has a fifty-two week low of $2.71 and a fifty-two week high of $48.90. The stock has a fifty day moving average of $4.33 and a 200-day moving average of $5.81. The company has a market capitalization of $12.13 million, a P/E ratio of -0.14 and a beta of 0.56.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings results on Thursday, November 13th. The biopharmaceutical company reported ($1.41) EPS for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.50. On average, equities research analysts predict that Cellectar Biosciences will post -1.59 earnings per share for the current fiscal year.

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.