Cellectar Biosciences (CLRB) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Cellectar Biosciences (NASDAQ:CLRB) from a buy rating to a hold rating in a report published on Friday.

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. “

How to Become a New Pot Stock Millionaire

Separately, ValuEngine upgraded shares of Cellectar Biosciences from a strong sell rating to a sell rating in a research report on Friday, February 2nd.

Shares of CLRB stock traded up $0.02 during midday trading on Friday, reaching $1.17. 163,897 shares of the company were exchanged, compared to its average volume of 358,812. Cellectar Biosciences has a 12 month low of $1.03 and a 12 month high of $2.25. The company has a market capitalization of $20.00, a price-to-earnings ratio of -1.09 and a beta of 0.75.

Cellectar Biosciences (NASDAQ:CLRB) last released its quarterly earnings results on Wednesday, March 21st. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.11). sell-side analysts anticipate that Cellectar Biosciences will post -0.71 EPS for the current year.

In other Cellectar Biosciences news, CEO James V. Caruso sold 34,000 shares of the business’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $1.20, for a total transaction of $40,800.00. Following the sale, the chief executive officer now directly owns 213,548 shares in the company, valued at approximately $256,257.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.17% of the stock is currently owned by insiders.

A hedge fund recently bought a new stake in Cellectar Biosciences stock. Anson Funds Management LP acquired a new position in Cellectar Biosciences (NASDAQ:CLRB) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 382,078 shares of the biopharmaceutical company’s stock, valued at approximately $523,000. Cellectar Biosciences comprises approximately 0.4% of Anson Funds Management LP’s investment portfolio, making the stock its 24th largest holding. Anson Funds Management LP owned about 2.42% of Cellectar Biosciences at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.37% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Cellectar Biosciences (CLRB) Downgraded by Zacks Investment Research to “Hold”” was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another site, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The legal version of this article can be read at https://www.dispatchtribunal.com/2018/04/07/cellectar-biosciences-clrb-downgraded-by-zacks-investment-research-to-hold.html.

About Cellectar Biosciences

Cellectar Biosciences, Inc, a clinical stage biopharmaceutical company, engages in the development of targeted phospholipid drug conjugates (PDCs) for the treatment and imaging of cancer. The company offers CLR 131, a PDC cytotoxic radioisotope product candidate, which is in Phase I clinical study for the treatment of relapse or refractory multiple myeloma, as well as in Phase II clinical study for the treatment of B-cell malignancies; and CLR 125, a cancer-targeting radiotherapeutic is under pre-clinical investigation for the treatment of micrometastatic disease.

Receive News & Ratings for Cellectar Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cellectar Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply