Cellectar Biosciences, Inc. (CLRB) Trading Up 7.3%

Cellectar Biosciences, Inc. (NASDAQ:CLRB) shares were up 7.3% during trading on Wednesday . The stock traded as high as $2.04 and last traded at $1.92. Approximately 1,161,492 shares were traded during trading, an increase of 366% from the average daily volume of 249,063 shares. The stock had previously closed at $1.79.

Several research analysts have commented on CLRB shares. Zacks Investment Research upgraded shares of Cellectar Biosciences from a “sell” rating to a “hold” rating in a report on Friday, September 8th. ValuEngine upgraded shares of Cellectar Biosciences from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st.

The stock’s market capitalization is $26.73 million. The company has a 50-day moving average of $1.70 and a 200-day moving average of $1.74.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings data on Monday, August 14th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.01. On average, equities analysts forecast that Cellectar Biosciences, Inc. will post ($0.92) earnings per share for the current fiscal year.

An institutional investor recently raised its position in Cellectar Biosciences stock. Virtu KCG Holdings LLC lifted its stake in shares of Cellectar Biosciences, Inc. (NASDAQ:CLRB) by 90.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,864 shares of the biopharmaceutical company’s stock after buying an additional 30,808 shares during the quarter. Virtu KCG Holdings LLC owned approximately 0.48% of Cellectar Biosciences worth $106,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 2.63% of the company’s stock.

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Cellectar Biosciences Company Profile

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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