Cellectar Biosciences, Inc. (NASDAQ:CLRB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

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 “strong sell” rating to a “sell” rating in a research note on Friday, September 1st.

Shares of Cellectar Biosciences (NASDAQ:CLRB) opened at 1.68 on Tuesday. Cellectar Biosciences has a 12 month low of $1.12 and a 12 month high of $3.07. The stock’s market capitalization is $23.39 million. The company’s 50-day moving average is $1.72 and its 200 day moving average is $1.72.

Cellectar Biosciences (NASDAQ:CLRB) last announced its earnings results on Monday, August 14th. The biopharmaceutical company reported ($0.23) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.01. Equities research analysts predict that Cellectar Biosciences will post ($0.92) earnings per share for the current year.

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A hedge fund recently raised its stake in Cellectar Biosciences stock. Virtu KCG Holdings LLC lifted its holdings in shares of Cellectar Biosciences, Inc. (NASDAQ:CLRB) by 90.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 64,864 shares of the biopharmaceutical company’s stock after acquiring an additional 30,808 shares during the period. Virtu KCG Holdings LLC owned approximately 0.48% of Cellectar Biosciences worth $106,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 2.63% of the company’s stock.

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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