Cellectar Biosciences, Inc. (CLRB) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Cellectar Biosciences, Inc. (NASDAQ:CLRB) posted its quarterly earnings data on Monday. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.01, Bloomberg Earnings reports.
Shares of Cellectar Biosciences (NASDAQ CLRB) traded up 5.44% on Tuesday, reaching $1.55. The company had a trading volume of 180,336 shares. Cellectar Biosciences has a 12 month low of $1.12 and a 12 month high of $3.47. The stock’s market cap is $20.87 million. The stock has a 50-day moving average price of $1.56 and a 200-day moving average price of $1.90.
Separately, ValuEngine cut Cellectar Biosciences from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 23rd.
A hedge fund recently raised its stake in Cellectar Biosciences stock. Vanguard Group Inc. increased its position in Cellectar Biosciences, Inc. (NASDAQ:CLRB) by 31.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,208 shares of the biopharmaceutical company’s stock after buying an additional 35,482 shares during the period. Vanguard Group Inc. owned about 1.09% of Cellectar Biosciences worth $240,000 at the end of the most recent quarter. 2.45% of the stock is currently owned by institutional investors and hedge funds.
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About Cellectar Biosciences
Cellectar Biosciences, Inc, formerly Novelos Therapeutics, Inc, is a clinical stage biopharmaceutical company. The Company is engaged in developing phospholipid ether-drug conjugates (PDCs) for the treatment and diagnostic imaging of cancer. Its research and development program is based on its PDC cancer targeting delivery platform.
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