Cellectar Biosciences, Inc. (CLRB) Rating Lowered to Sell at Zacks Investment Research

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “Cellectar Biosciences, Inc. is developing agents to detect, treat and monitor a broad spectrum of cancers. It uses a novel phospholipid ether platform technology as a targeted delivery and retention vehicle. Cellectar Biosciences Inc., formerly known as Novelos Therapeutics, Inc., is headquartered in Madison, Wisconsin. “

Separately, ValuEngine upgraded shares of Cellectar Biosciences from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st.

Shares of Cellectar Biosciences (CLRB) opened at $1.43 on Tuesday. Cellectar Biosciences has a 1 year low of $1.12 and a 1 year high of $3.07.

Cellectar Biosciences (NASDAQ:CLRB) last issued its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.01). equities research analysts predict that Cellectar Biosciences will post -0.96 earnings per share for the current year.

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A hedge fund recently raised its stake in Cellectar Biosciences stock. Virtu KCG Holdings LLC increased its holdings in Cellectar Biosciences, Inc. (NASDAQ:CLRB) by 90.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,864 shares of the biopharmaceutical company’s stock after buying an additional 30,808 shares during the period. Virtu KCG Holdings LLC owned about 0.48% of Cellectar Biosciences worth $106,000 as of its most recent SEC filing. Institutional investors own 2.53% of the company’s stock.

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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