Cellectar Biosciences (CLRB) Trading Up 13%

Cellectar Biosciences Inc (NASDAQ:CLRB) shares were up 13% on Thursday . The company traded as high as $1.45 and last traded at $1.39. Approximately 1,061,888 shares changed hands during mid-day trading, an increase of 163% from the average daily volume of 404,508 shares. The stock had previously closed at $1.23.

A number of research analysts recently weighed in on CLRB shares. Zacks Investment Research cut Cellectar Biosciences from a “hold” rating to a “sell” rating in a report on Tuesday, November 21st. ValuEngine upgraded Cellectar Biosciences from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.01). sell-side analysts forecast that Cellectar Biosciences Inc will post -0.96 EPS for the current fiscal year.

A hedge fund recently raised its stake in Cellectar Biosciences stock. Virtu KCG Holdings LLC grew its stake in shares of Cellectar Biosciences Inc (NASDAQ:CLRB) by 90.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,864 shares of the biopharmaceutical company’s stock after purchasing an additional 30,808 shares during the quarter. Virtu KCG Holdings LLC owned 0.48% of Cellectar Biosciences worth $106,000 at the end of the most recent quarter. Institutional investors and hedge funds own 1.71% of the company’s stock.

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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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