Cellectar Biosciences (NASDAQ:CLRB) Rating Increased to Sell at StockNews.com

Cellectar Biosciences (NASDAQ:CLRB) was upgraded by research analysts at StockNews.com to a “sell” rating in a research report issued on Tuesday.

Cellectar Biosciences Stock Up 1.4 %

Shares of NASDAQ CLRB traded up $0.03 during trading on Tuesday, hitting $2.11. The company had a trading volume of 233,655 shares, compared to its average volume of 1,039,908. The firm has a market capitalization of $75.64 million, a price-to-earnings ratio of -0.69 and a beta of 0.99. The stock has a fifty day simple moving average of $2.20 and a two-hundred day simple moving average of $2.89. Cellectar Biosciences has a fifty-two week low of $1.82 and a fifty-two week high of $4.45.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rosalind Advisors Inc. increased its stake in shares of Cellectar Biosciences by 335.4% in the 2nd quarter. Rosalind Advisors Inc. now owns 2,705,616 shares of the biopharmaceutical company’s stock worth $6,764,000 after acquiring an additional 2,084,138 shares during the last quarter. ADAR1 Capital Management LLC acquired a new position in Cellectar Biosciences during the 4th quarter worth about $3,817,000. AIGH Capital Management LLC boosted its holdings in Cellectar Biosciences by 182.7% during the 4th quarter. AIGH Capital Management LLC now owns 1,915,220 shares of the biopharmaceutical company’s stock valued at $5,305,000 after acquiring an additional 1,237,709 shares during the period. Vanguard Group Inc. grew its holdings in shares of Cellectar Biosciences by 146.7% in the first 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. Finally, XTX Topco Ltd raised its stake in shares of Cellectar Biosciences by 432.4% in the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after acquiring an additional 51,413 shares in the last quarter. 16.41% of the stock is currently owned by institutional investors and hedge funds.

Cellectar Biosciences Company Profile

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.