Cellectar Biosciences, Inc. (NASDAQ:CLRB) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Cellectar Biosciences, Inc. (NASDAQ:CLRB) have been given a consensus rating of “Moderate Buy” by the five analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $11.00.

A number of equities analysts have recently commented on the stock. Roth Capital reaffirmed a “buy” rating and set a $11.00 target price on shares of Cellectar Biosciences in a research report on Tuesday, May 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cellectar Biosciences in a research note on Monday, April 20th. Brookline Capital Markets upgraded Cellectar Biosciences to a “strong-buy” rating in a report on Sunday. LADENBURG THALM/SH SH began coverage on Cellectar Biosciences in a research report on Friday, May 15th. They set a “buy” rating for the company. Finally, Wall Street Zen raised Cellectar Biosciences to a “hold” rating in a research report on Saturday, June 20th.

Institutional Investors Weigh In On Cellectar Biosciences

A number of hedge funds have recently made changes to their positions in CLRB. XTX Topco Ltd purchased a new stake in shares of Cellectar Biosciences during the fourth quarter valued at about $36,000. Bank of America Corp DE grew its position in shares of Cellectar Biosciences by 25.3% in the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $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 3rd quarter worth approximately $73,000. Sequoia Financial Advisors LLC raised its stake in shares of Cellectar Biosciences by 135.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 25,350 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 14,567 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Cellectar Biosciences by 15.0% during the 4th quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock worth $84,000 after acquiring 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 Stock Performance

NASDAQ CLRB opened at $2.63 on Tuesday. The business’s 50 day moving average price is $2.81 and its 200-day moving average price is $2.99. Cellectar Biosciences has a fifty-two week low of $2.20 and a fifty-two week high of $6.52. The company has a market cap of $21.01 million, a P/E ratio of -0.39 and a beta of 0.55.

Cellectar Biosciences (NASDAQ:CLRB) last released its quarterly earnings results on Thursday, May 14th. The biopharmaceutical company reported ($1.33) EPS for the quarter, topping analysts’ consensus estimates of ($1.88) by $0.55. As a group, equities analysts predict that Cellectar Biosciences will post -2.34 EPS for the current year.

About Cellectar Biosciences

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.