Cellectar Biosciences (CLRB) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Cellectar Biosciences (NASDAQ:CLRB) from a sell rating to a hold rating in a research note issued to investors on Thursday.

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 sell rating to a hold rating in a report on Wednesday, May 2nd.

Shares of Cellectar Biosciences stock opened at $0.76 on Thursday. The company has a market cap of $13.29 million, a P/E ratio of -0.71 and a beta of 0.69. Cellectar Biosciences has a 52 week low of $0.72 and a 52 week high of $2.06.

Cellectar Biosciences (NASDAQ:CLRB) last announced its earnings results on Friday, May 11th. The biopharmaceutical company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). research analysts expect that Cellectar Biosciences will post -0.73 EPS for the current year.

An institutional investor recently bought a new position in Cellectar Biosciences stock. Anson Funds Management LP acquired a new position in Cellectar Biosciences Inc (NASDAQ:CLRB) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 382,078 shares of the biopharmaceutical company’s stock, valued at approximately $523,000. Cellectar Biosciences makes up approximately 0.4% of Anson Funds Management LP’s investment portfolio, making the stock its 24th biggest holding. Anson Funds Management LP owned approximately 2.42% of Cellectar Biosciences at the end of the most recent quarter. 2.45% of the stock is owned by institutional investors and hedge funds.

Cellectar Biosciences Company Profile

Cellectar Biosciences, Inc, a clinical stage biopharmaceutical company, engages in the discovery, development, and commercialization of drugs for the treatment of cancer. Its lead phospholipid drug conjugate (PDC) therapeutic, CLR 131, is in a Phase 1 clinical study in patients with relapsed or refractory (R/R) multiple myeloma (MM) and a Phase 2 clinical study in R/R MM and a range of B-cell malignancies.

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