Zacks Investment Research downgraded shares of Cellectar Biosciences (NASDAQ:CLRB) from a hold rating to a sell rating in a report issued on Tuesday, November 21st.
According to Zacks, “Cellectar Biosciences, Inc. is developing agents to detect, treat and monitor a broad spectrum of cancers. It uses a novel phospholipid ether platform technology as a targeted delivery and retention vehicle. Cellectar Biosciences Inc., formerly known as Novelos Therapeutics, Inc., is headquartered in Madison, Wisconsin. “
Separately, ValuEngine upgraded Cellectar Biosciences from a strong sell rating to a sell rating in a report on Friday, September 1st.
Shares of Cellectar Biosciences (NASDAQ:CLRB) traded up $0.02 during mid-day trading on Tuesday, reaching $1.27. 338,936 shares of the company traded hands, compared to its average volume of 403,797. Cellectar Biosciences has a 12-month low of $1.12 and a 12-month high of $3.07.
Cellectar Biosciences (NASDAQ:CLRB) last posted its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.01). equities analysts expect that Cellectar Biosciences will post -0.96 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Cellectar Biosciences stock. Vanguard Group Inc. lifted its position in shares of Cellectar Biosciences, Inc. (NASDAQ:CLRB) by 31.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,208 shares of the biopharmaceutical company’s stock after acquiring an additional 35,482 shares during the period. Vanguard Group Inc. owned about 1.09% of Cellectar Biosciences worth $240,000 at the end of the most recent reporting period. Institutional investors own 2.12% of the company’s stock.
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About Cellectar Biosciences
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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