Cellectar Biosciences (NASDAQ:CLRB) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened
by Kim Johansen · The Markets DailyCellectar Biosciences, Inc. (NASDAQ:CLRB – Get Free Report)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.98 and traded as low as $2.46. Cellectar Biosciences shares last traded at $2.47, with a volume of 36,528 shares changing hands.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on CLRB. Weiss Ratings reissued a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Friday, July 17th. LADENBURG THALM/SH SH initiated coverage on shares of Cellectar Biosciences in a research note on Friday, May 15th. They set a “buy” rating for the company. Wall Street Zen upgraded shares of Cellectar Biosciences to a “hold” rating in a report on Saturday, June 20th. Roth Capital reissued a “buy” rating and issued a $11.00 target price on shares of Cellectar Biosciences in a research note on Tuesday, May 5th. Finally, Brookline Capital Markets upgraded Cellectar Biosciences to a “strong-buy” rating in a report on Sunday, July 12th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cellectar Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.
Read Our Latest Analysis on Cellectar Biosciences
Cellectar Biosciences Stock Down 2.4%
The firm’s fifty day moving average is $2.72 and its two-hundred day moving average is $2.97. The firm has a market cap of $19.26 million, a P/E ratio of -0.36 and a beta of 0.55.
Cellectar Biosciences (NASDAQ:CLRB – Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The biopharmaceutical company reported ($1.33) EPS for the quarter, topping the consensus estimate of ($1.88) by $0.55. As a group, sell-side analysts forecast that Cellectar Biosciences, Inc. will post -2.34 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd bought a new position in shares of Cellectar Biosciences in the 4th quarter worth approximately $36,000. Dimensional Fund Advisors LP bought a new stake in shares of Cellectar Biosciences during the third quarter valued at approximately $73,000. Citadel Advisors LLC bought a new stake in shares of Cellectar Biosciences during the third quarter valued at approximately $104,000. Sequoia Financial Advisors LLC grew its stake in Cellectar Biosciences by 135.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 25,350 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 14,567 shares during the period. Finally, Geode Capital Management LLC grew its stake in Cellectar Biosciences by 15.0% in the fourth quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock worth $84,000 after purchasing an additional 3,744 shares during the period. Hedge funds and other institutional investors own 16.41% of the company’s stock.
About Cellectar Biosciences
Cellectar Biosciences, Inc is a clinical‐stage biopharmaceutical company focused on the development of targeted cancer therapies and imaging agents. The company’s proprietary phospholipid drug conjugate (PDC) technology platform is designed to selectively deliver therapeutic and diagnostic payloads to malignant cells while sparing healthy tissue. Through its PDC approach, Cellectar aims to improve the efficacy and safety profile of traditional treatments like chemotherapy and radiotherapy.
Its lead therapeutic candidate, CLR 131, is a radioisotope‐labeled PDC being evaluated in Phase II clinical trials for relapsed or refractory B‐cell malignancies, including multiple myeloma and non‐Hodgkin lymphoma.