Cellectar Biosciences (NASDAQ:CLRB) Shares Pass Below 200 Day Moving Average – Here’s What Happened

Cellectar Biosciences, Inc. (NASDAQ:CLRB)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.01 and traded as low as $3.15. Cellectar Biosciences shares last traded at $3.2720, with a volume of 19,166 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cellectar Biosciences in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold”.

Cellectar Biosciences Price Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 2.77 and a quick ratio of 2.77. The stock has a fifty day simple moving average of $3.28 and a 200-day simple moving average of $4.01. The company has a market capitalization of $13.87 million, a price-to-earnings ratio of -0.35 and a beta of 0.32.

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

Institutional Trading of Cellectar Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC purchased a new position in shares of Cellectar Biosciences during the 3rd quarter valued at approximately $60,000. Bank of America Corp DE raised its position in Cellectar Biosciences by 25.3% during the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 41,704 shares during the period. Dimensional Fund Advisors LP purchased a new position in Cellectar Biosciences during the third quarter valued at $73,000. Riverview Capital Advisers LLC acquired a new stake in shares of Cellectar Biosciences in the second quarter valued at about $75,000. Finally, Geode Capital Management LLC increased its stake in shares of Cellectar Biosciences by 15.0% during the fourth quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock worth $84,000 after purchasing an additional 3,744 shares in the last quarter. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

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.