Cellectar Biosciences (NASDAQ:CLRB) Raised to “Sell” at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of Cellectar Biosciences (NASDAQ:CLRB – Free Report) to a sell rating in a research report report published on Thursday.

Cellectar Biosciences Price Performance

CLRB opened at $2.04 on Thursday. Cellectar Biosciences has a one year low of $1.82 and a one year high of $4.45. The business has a 50 day simple moving average of $2.11 and a two-hundred day simple moving average of $2.80. The firm has a market capitalization of $73.13 million, a price-to-earnings ratio of -0.66 and a beta of 0.99.

Institutional Trading of Cellectar Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ADAR1 Capital Management LLC bought a new position in Cellectar Biosciences in the 4th quarter worth $3,817,000. Vanguard Group Inc. boosted its stake in shares of Cellectar Biosciences by 146.7% during the 1st quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock valued at $4,741,000 after purchasing an additional 708,191 shares in the last quarter. AIGH Capital Management LLC increased its position in shares of Cellectar Biosciences by 8.2% during the second quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock valued at $7,590,000 after buying an additional 231,270 shares during the period. XTX Topco Ltd raised its stake in Cellectar Biosciences by 432.4% in the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock worth $158,000 after buying an additional 51,413 shares in the last quarter. Finally, Rosalind Advisors Inc. lifted its holdings in Cellectar Biosciences by 335.4% in the second quarter. Rosalind Advisors Inc. now owns 2,705,616 shares of the biopharmaceutical company’s stock worth $6,764,000 after buying an additional 2,084,138 shares during the period. Hedge funds and other institutional investors own 16.41% of the company’s stock.

About Cellectar Biosciences

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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.

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