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. “
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.
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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.
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