Cellectar Biosciences (NASDAQ:CLRB) Announces Earnings Results, Beats Expectations By $0.55 EPS

Cellectar Biosciences (NASDAQ:CLRB) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($1.33) EPS for the quarter, beating analysts’ consensus estimates of ($1.88) by $0.55, FiscalAI reports.

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

• Cellectar reported positive 12-month follow-on data from CLOVER-WaM for iopofosine I-131 in relapsed/refractory Waldenström’s macroglobulinemia, saying the drug met both the primary and secondary endpoints.
• The study showed strong durability and efficacy, including an 83.6% overall response rate, 61.8% major response rate, median duration of response of 17.8 months, and 98.2% disease control rate.
• The company said it is advancing plans for accelerated approval with the FDA and intends to start a randomized phase III confirmatory trial in late Q4 2026, with the NDA timing potentially following shortly after trial initiation.
• Cellectar completed an oversubscribed financing of up to $140 million, including $35 million upfront and up to $105 million in milestone-based capital, which it says funds operations into Q2 2027 and supports WM development and commercialization efforts.
• The company also reported early progress in its broader pipeline, including the first patient doses in the phase I-B CLR 125 trial in relapsed/refractory triple-negative breast cancer, with initial biodistribution, dosimetry, and efficacy data expected later this year.

Cellectar Biosciences Stock Up 8.8%

NASDAQ:CLRB traded up $0.26 during mid-day trading on Thursday, hitting $3.20. 396,553 shares of the company traded hands, compared to its average volume of 2,948,113. The stock’s fifty day moving average price is $2.91 and its 200-day moving average price is $3.15. Cellectar Biosciences has a one year low of $2.43 and a one year high of $20.60. The firm has a market cap of $13.57 million, a price-to-earnings ratio of -0.34 and a beta of 0.43.

Analyst Ratings Changes

A number of analysts recently commented on CLRB shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Monday, April 20th. Roth Mkm reiterated a “buy” rating and set a $11.00 price objective on shares of Cellectar Biosciences in a research report on Tuesday, May 5th. Finally, Maxim Group upgraded Cellectar Biosciences from a “hold” rating to a “buy” rating in a research report on Tuesday, March 10th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Cellectar Biosciences presently has an average rating of “Hold” and an average target price of $11.00.

Institutional Trading of Cellectar Biosciences

Hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd bought a new stake in Cellectar Biosciences during the fourth quarter valued at about $36,000. Bank of America Corp DE grew its holdings 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 purchasing an additional 41,704 shares during the period. Dimensional Fund Advisors LP bought a new stake in Cellectar Biosciences during the third quarter valued at about $73,000. Geode Capital Management LLC grew its holdings 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 period. Finally, Citadel Advisors LLC bought a new stake in Cellectar Biosciences during the third quarter valued at about $104,000. Institutional investors own 16.41% of the company’s stock.

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.