Cellectar Biosciences (CLRB) Shares Up 5.9%

Shares of Cellectar Biosciences Inc (NASDAQ:CLRB) rose 5.9% on Tuesday . The stock traded as high as $2.09 and last traded at $1.97. Approximately 1,130,322 shares were traded during trading, an increase of 208% from the average daily volume of 367,474 shares. The stock had previously closed at $1.86.

Several research firms have commented on CLRB. ValuEngine downgraded Cellectar Biosciences from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Zacks Investment Research upgraded Cellectar Biosciences from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a research report on Monday, March 4th. Finally, HC Wainwright began coverage on Cellectar Biosciences in a research report on Thursday, May 2nd. They issued a “buy” rating and a $4.00 target price for the company.

The company has a quick ratio of 5.04, a current ratio of 5.04 and a debt-to-equity ratio of 0.06. The stock has a market cap of $9.49 million, a P/E ratio of -0.42 and a beta of 1.22.

Cellectar Biosciences (NASDAQ:CLRB) last posted its earnings results on Monday, May 6th. The biopharmaceutical company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.02). As a group, equities analysts expect that Cellectar Biosciences Inc will post -2.4 EPS for the current fiscal year.

An institutional investor recently bought a new position in Cellectar Biosciences stock. Renaissance Technologies LLC acquired a new position in shares of Cellectar Biosciences Inc (NASDAQ:CLRB) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 58,553 shares of the biopharmaceutical company’s stock, valued at approximately $176,000. Renaissance Technologies LLC owned about 1.63% of Cellectar Biosciences at the end of the most recent reporting period. Institutional investors and hedge funds own 5.17% of the company’s stock.

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Cellectar Biosciences Company Profile (NASDAQ:CLRB)

Cellectar Biosciences, Inc, a clinical stage 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, which is in Phase II clinical study in patients with relapsed or refractory (R/R) multiple myeloma (MM) and a range of B-cell malignancies, as well as in Phase I clinical study for R/R MM.

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