Key Points
- Cellectar Biosciences CEO James Caruso bought 8,680 shares at an average price of $2.88, a purchase valued at about $25,000 that increased his ownership by 74.58%.
- The stock opened at $3.06 and was down 1.3%, leaving the company with a market cap of about $12.97 million and a 52-week range of $2.43 to $20.60.
- Analysts currently have a mixed outlook on CLRB: one sell rating, two buy ratings, and an average price target of $11.00 despite the company’s recent earnings beat.
Cellectar Biosciences, Inc. (NASDAQ:CLRB - Get Free Report) CEO James Caruso acquired 8,680 shares of the stock in a transaction dated Thursday, May 7th. The stock was acquired at an average cost of $2.88 per share, with a total value of $24,998.40. Following the transaction, the chief executive officer owned 20,318 shares of the company's stock, valued at approximately $58,515.84. This trade represents a 74.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Cellectar Biosciences Stock Down 1.3%
Shares of NASDAQ:CLRB opened at $3.06 on Tuesday. The company has a market cap of $12.97 million, a P/E ratio of -0.32 and a beta of 0.43. Cellectar Biosciences, Inc. has a 52 week low of $2.43 and a 52 week high of $20.60. The business has a fifty day simple moving average of $2.91 and a 200-day simple moving average of $3.17.
Cellectar Biosciences (NASDAQ:CLRB - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The biopharmaceutical company reported ($0.53) EPS for the quarter, beating analysts' consensus estimates of ($1.19) by $0.66. Sell-side analysts expect that Cellectar Biosciences, Inc. will post -1.84 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on CLRB shares. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Cellectar Biosciences in a research report on Monday, April 20th. Maxim Group raised Cellectar Biosciences from a "hold" rating to a "buy" rating in a research report on Tuesday, March 10th. Finally, Roth Mkm reissued a "buy" rating and set a $11.00 price target on shares of Cellectar Biosciences in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $11.00.
View Our Latest Stock Report on Cellectar Biosciences
Institutional Investors Weigh In On Cellectar Biosciences
Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in shares of Cellectar Biosciences by 25.3% during the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company's stock worth $62,000 after purchasing an additional 41,704 shares in the last quarter. DRW Securities LLC lifted its stake in shares of Cellectar Biosciences by 114.2% during the fourth quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company's stock worth $133,000 after purchasing an additional 24,089 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Cellectar Biosciences by 15.0% during the fourth 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 in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Cellectar Biosciences by 135.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 25,350 shares of the biopharmaceutical company's stock worth $75,000 after purchasing an additional 14,567 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of Cellectar Biosciences during the third quarter worth about $104,000. Hedge funds and other institutional investors own 16.41% of the company's stock.
About Cellectar Biosciences
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
