Cellectar Biosciences (NASDAQ:CLRB) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Cellectar Biosciences, Inc. (NASDAQ:CLRB) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.01 and traded as low as $3.15. Cellectar Biosciences shares last traded at $3.2720, with a volume of 19,166 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Cellectar Biosciences Trading Up 4.2%

The company has a 50-day moving average price of $3.28 and a two-hundred day moving average price of $4.01. The stock has a market cap of $13.87 million, a P/E ratio of -0.35 and a beta of 0.32. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.04.

Cellectar Biosciences (NASDAQ:CLRB) last posted its quarterly earnings data on Thursday, November 13th. The biopharmaceutical company reported ($1.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.91) by $0.50. On average, research analysts expect that Cellectar Biosciences, Inc. will post -1.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC bought a new stake in shares of Cellectar Biosciences during the 3rd quarter worth approximately $60,000. Bank of America Corp DE boosted its position in Cellectar Biosciences by 25.3% in the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 41,704 shares during the period. Dimensional Fund Advisors LP bought a new position in Cellectar Biosciences in the 3rd quarter worth about $73,000. Riverview Capital Advisers LLC purchased a new position in shares of Cellectar Biosciences during the second quarter worth approximately $75,000. Finally, Geode Capital Management LLC increased its holdings in Cellectar Biosciences by 15.0% during the 4th 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.

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.