Cellectar Biosciences (NASDAQ:CLRB) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of Cellectar Biosciences (NASDAQ:CLRB) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

CLRB has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Friday, July 17th. LADENBURG THALM/SH SH initiated coverage on shares of Cellectar Biosciences in a research report on Friday, May 15th. They set a “buy” rating for the company. Roth Capital restated a “buy” rating and issued a $11.00 price target on shares of Cellectar Biosciences in a research note on Tuesday, May 5th. Finally, Brookline Capital Markets raised shares of Cellectar Biosciences to a “strong-buy” rating in a report on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cellectar Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Cellectar Biosciences Stock Performance

NASDAQ:CLRB opened at $2.60 on Friday. The stock has a market cap of $20.77 million, a price-to-earnings ratio of -0.68 and a beta of 0.55. Cellectar Biosciences has a one year low of $2.20 and a one year high of $6.52. The business’s 50-day simple moving average is $2.56 and its 200 day simple moving average is $2.86.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05). On average, equities research analysts predict that Cellectar Biosciences will post -2.49 EPS for the current year.

Institutional Trading of Cellectar Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. DRW Securities LLC lifted its holdings in Cellectar Biosciences by 114.2% during the 4th quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 24,089 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cellectar Biosciences by 15.0% in the 4th quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock valued at $84,000 after acquiring an additional 3,744 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Cellectar Biosciences in the 3rd quarter valued at approximately $104,000. Dimensional Fund Advisors LP bought a new stake in shares of Cellectar Biosciences in the 3rd quarter valued at approximately $73,000. Finally, Bank of America Corp DE raised its position in shares of Cellectar Biosciences by 25.3% during the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 41,704 shares in 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.