Cellectar Biosciences Inc (CLRB) CEO Sells $40,800.00 in Stock

Cellectar Biosciences Inc (NASDAQ:CLRB) CEO James V. Caruso sold 34,000 shares of Cellectar Biosciences stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $1.20, for a total value of $40,800.00. Following the transaction, the chief executive officer now owns 213,548 shares of the company’s stock, valued at $256,257.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Cellectar Biosciences Inc (NASDAQ:CLRB) remained flat at $$1.17 during trading hours on Wednesday. The company had a trading volume of 322,350 shares, compared to its average volume of 257,440. The firm has a market capitalization of $18.98, a price-to-earnings ratio of -1.09 and a beta of 0.75. Cellectar Biosciences Inc has a 1 year low of $1.06 and a 1 year high of $2.70.

Several brokerages have recently commented on CLRB. ValuEngine upgraded Cellectar Biosciences from a “strong sell” rating to a “sell” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded Cellectar Biosciences from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th.

An institutional investor recently raised its position in Cellectar Biosciences stock. Vanguard Group Inc. increased its position in shares of Cellectar Biosciences Inc (NASDAQ:CLRB) by 31.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,208 shares of the biopharmaceutical company’s stock after purchasing an additional 35,482 shares during the period. Vanguard Group Inc. owned approximately 1.09% of Cellectar Biosciences worth $240,000 as of its most recent filing with the Securities and Exchange Commission. 8.37% of the stock is owned by hedge funds and other institutional investors.

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Cellectar Biosciences Company Profile

Cellectar Biosciences, Inc, formerly Novelos Therapeutics, Inc, is a clinical stage biopharmaceutical company. The Company is engaged in developing phospholipid ether-drug conjugates (PDCs) for the treatment and diagnostic imaging of cancer. Its research and development program is based on its PDC cancer targeting delivery platform.

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