Oppenheimer Has Lowered Expectations for Cellectar Biosciences (NASDAQ:CLRB) Stock Price

Cellectar Biosciences (NASDAQ:CLRB - Get Free Report) had its price objective lowered by Oppenheimer from $14.00 to $12.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the biopharmaceutical company's stock.

Separately, StockNews.com upgraded shares of Cellectar Biosciences to a "sell" rating in a research report on Thursday, September 26th.

Cellectar Biosciences Stock Down 9.0 %

Shares of NASDAQ:CLRB traded down $0.16 during midday trading on Tuesday, reaching $1.61. The company's stock had a trading volume of 1,718,639 shares, compared to its average volume of 893,164. The firm has a market capitalization of $65.32 million, a PE ratio of -0.63 and a beta of 1.00. Cellectar Biosciences has a twelve month low of $1.57 and a twelve month high of $4.45. The stock has a fifty day moving average of $2.07 and a 200 day moving average of $2.42.

Cellectar Biosciences (NASDAQ:CLRB - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) EPS for the quarter. Sell-side analysts anticipate that Cellectar Biosciences will post -1.57 earnings per share for the current fiscal year.

Institutional Trading of Cellectar Biosciences

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Cellectar Biosciences by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company's stock valued at $754,000 after buying an additional 11,266 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Cellectar Biosciences in the 3rd quarter valued at $27,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Cellectar Biosciences in the 3rd quarter valued at $51,000. XTX Topco Ltd raised its holdings in shares of Cellectar Biosciences by 432.4% in the 2nd quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company's stock valued at $158,000 after purchasing an additional 51,413 shares in the last quarter. Finally, AIGH Capital Management LLC raised its holdings in shares of Cellectar Biosciences by 8.2% in the 2nd quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company's stock valued at $7,590,000 after purchasing an additional 231,270 shares in the last quarter. Institutional investors and hedge funds own 16.41% of the company's stock.

About Cellectar Biosciences

Cellectar Biosciences, Inc, a clinical 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 (iopofosine I-131), which is in Phase 2 clinical study for patients with B-cell malignancies; Phase 2a clinical study for patients with relapsed or refractory (r/r) Waldenstrom's macroglobulinemia cohort, r/r multiple myeloma (MM) cohort, and r/r non-Hodgkin's lymphoma cohort; Phase 1 clinical study for r/r pediatric patients with select solid tumors, lymphomas, and malignant brain tumors; and Phase 1 clinical study for r/r head and neck cancer.