Oppenheimer Cuts Cellectar Biosciences (NASDAQ:CLRB) Price Target to $12.00

Cellectar Biosciences (NASDAQ:CLRB) had its target price lowered by Oppenheimer from $14.00 to $12.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the biopharmaceutical company’s stock.

Separately, StockNews.com upgraded shares of Cellectar Biosciences to a “sell” rating in a research report on Thursday, September 26th.

Cellectar Biosciences Stock Performance

Shares of Cellectar Biosciences stock opened at $1.58 on Tuesday. Cellectar Biosciences has a 52-week low of $1.39 and a 52-week high of $4.45. The stock has a market capitalization of $65.21 million, a price-to-earnings ratio of -0.92 and a beta of 1.00. The company has a fifty day moving average of $2.05 and a 200-day moving average of $2.40.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) EPS for the quarter. On average, equities research analysts forecast that Cellectar Biosciences will post -1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cellectar Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rosalind Advisors Inc. grew its holdings in shares of Cellectar Biosciences by 35.7% in the third quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock worth $7,857,000 after purchasing an additional 965,934 shares during the last quarter. AIGH Capital Management LLC grew its holdings in shares of Cellectar Biosciences by 8.2% in the second quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock worth $7,590,000 after purchasing an additional 231,270 shares during the last quarter. 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 worth $4,741,000 after purchasing an additional 708,191 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Cellectar Biosciences by 3.3% in the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock worth $754,000 after purchasing an additional 11,266 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in Cellectar Biosciences by 432.4% during the 2nd quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock worth $158,000 after acquiring an additional 51,413 shares in the last quarter. Hedge funds and other institutional investors own 16.41% of the company’s stock.

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.