Cellectar Biosciences (NASDAQ:CLRB) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Cellectar Biosciences (NASDAQ:CLRB) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.05), FiscalAI reports.

Here are the key takeaways from Cellectar Biosciences’ conference call:

• Cellectar reported encouraging 12-month CLOVER-WaM results for iopofosine I-131, including a 62% major response rate, 17.8-month median duration of response, and deeper responses over time in heavily pretreated Waldenström macroglobulinemia patients.
• Site activation has begun for the planned Phase III confirmatory study, with first patient enrollment expected in late 2026 or early 2027 and an accelerated-approval submission targeted for March–April 2027, subject to having sufficient sites and enrollment underway.
• The company’s $35 million upfront financing, with up to $105 million in milestone-linked proceeds, increased cash and equivalents to approximately $34 million and is intended to fund the WM program through potential commercialization.
• Cellectar is expanding beyond WM through its phospholipid drug-conjugate platform, including the Phase Ib CLR 125 program in triple-negative breast cancer and earlier-stage alpha-emitting CLR 225; initial CLR 125 dosimetry, safety, and efficacy data are expected later this year or early next year.
• Second-quarter R&D expenses rose to $4.6 million from $2.4 million year over year, while the company recorded a $6.9 million net loss; future funding also depends partly on warrant exercises tied to clinical and regulatory milestones and stock-price conditions.

Cellectar Biosciences Price Performance

Shares of CLRB stock traded up $0.12 during mid-day trading on Friday, hitting $2.60. The company had a trading volume of 46,566 shares, compared to its average volume of 38,496. The company has a market capitalization of $20.77 million, a P/E ratio of -0.68 and a beta of 0.55. The stock’s 50 day moving average price is $2.56 and its 200-day moving average price is $2.86. Cellectar Biosciences has a 52-week low of $2.20 and a 52-week high of $6.52.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Roth Capital reissued a “buy” rating and set a $11.00 price target on shares of Cellectar Biosciences in a research report on Tuesday, May 5th. Brookline Capital Markets upgraded Cellectar Biosciences to a “strong-buy” rating in a research note on Sunday, July 12th. LADENBURG THALM/SH SH began coverage on shares of Cellectar Biosciences in a research report on Friday, May 15th. They set a “buy” rating for the company. Wall Street Zen lowered Cellectar Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cellectar Biosciences in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.00.

Institutional Investors Weigh In On Cellectar Biosciences

Several large investors have recently made changes to their positions in CLRB. Bank of America Corp DE boosted its stake 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 valued at $62,000 after buying an additional 41,704 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Cellectar Biosciences in the third quarter valued at $73,000. Citadel Advisors LLC bought a new stake in Cellectar Biosciences in the third quarter worth $104,000. Geode Capital Management LLC lifted its position in Cellectar Biosciences by 15.0% during the fourth quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock valued at $84,000 after purchasing an additional 3,744 shares during the last quarter. Finally, DRW Securities LLC lifted its holdings in shares of Cellectar Biosciences by 114.2% in the 4th quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 24,089 shares during the last quarter. 16.41% of the stock is owned by 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.