Cellectar Biosciences (NASDAQ:CLRB) COO Acquires $24,998.40 in Stock

Cellectar Biosciences, Inc. (NASDAQ:CLRB) COO Jarrod Longcor acquired 8,680 shares of Cellectar Biosciences stock in a transaction that occurred on Thursday, May 7th. The stock was acquired at an average price of $2.88 per share, with a total value of $24,998.40. Following the completion of the acquisition, the chief operating officer directly owned 20,451 shares in the company, valued at $58,898.88. This represents a 73.74% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Cellectar Biosciences Stock Performance

NASDAQ CLRB opened at $2.94 on Thursday. Cellectar Biosciences, Inc. has a one year low of $2.43 and a one year high of $20.60. The stock has a 50-day moving average of $2.90 and a 200 day moving average of $3.16. The company has a market capitalization of $12.47 million, a price-to-earnings ratio of -0.31 and a beta of 0.43.

Cellectar Biosciences (NASDAQ:CLRB) last released its quarterly earnings data on Wednesday, March 4th. The biopharmaceutical company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.66. On average, equities analysts predict that Cellectar Biosciences, Inc. will post -1.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

CLRB has been the subject of several research analyst reports. Maxim Group upgraded Cellectar Biosciences from a “hold” rating to a “buy” rating in a report on Tuesday, March 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cellectar Biosciences in a report on Monday, April 20th. Finally, Roth Mkm reiterated a “buy” rating and issued a $11.00 price objective on shares of Cellectar Biosciences in a report on Tuesday, May 5th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Institutional Investors Weigh In On Cellectar Biosciences

Large investors have recently made changes to their positions in the company. XTX Topco Ltd bought a new stake in shares of Cellectar Biosciences during the 4th quarter valued at about $36,000. Sequoia Financial Advisors LLC bought a new stake in shares of Cellectar Biosciences during the 3rd quarter valued at about $60,000. Bank of America Corp DE grew its stake in shares of Cellectar Biosciences by 25.3% during the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 41,704 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of Cellectar Biosciences during the 3rd quarter valued at about $73,000. Finally, Geode Capital Management LLC grew its stake in shares of Cellectar Biosciences by 15.0% during the 4th quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock valued at $84,000 after purchasing an additional 3,744 shares during the period. 16.41% of the stock is currently owned by institutional investors.

Cellectar Biosciences Company Profile

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.