Cellectar Biosciences Inc (NASDAQ:CLRB) saw unusually-high trading volume on Friday . Approximately 686,574 shares were traded during mid-day trading, an increase of 163% from the previous session’s volume of 261,001 shares.The stock last traded at $2.36 and had previously closed at $2.29.

CLRB has been the subject of a number of research reports. ValuEngine raised shares of Cellectar Biosciences from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Brookline Capital Management initiated coverage on shares of Cellectar Biosciences in a research report on Monday, July 29th. They issued a “buy” rating and a $6.00 price target for the company. Roth Capital initiated coverage on shares of Cellectar Biosciences in a research report on Friday. They issued a “buy” rating and a $11.00 price target for the company. Zacks Investment Research cut shares of Cellectar Biosciences from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. Finally, HC Wainwright set a $3.00 price target on shares of Cellectar Biosciences and gave the company a “buy” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $5.56.

The company has a debt-to-equity ratio of 0.03, a current ratio of 6.80 and a quick ratio of 6.80. The company has a market capitalization of $21.80 million, a price-to-earnings ratio of -0.51 and a beta of 1.38. The business’s 50 day simple moving average is $2.17 and its 200 day simple moving average is $2.21.

Cellectar Biosciences (NASDAQ:CLRB) last posted its quarterly earnings data on Monday, August 12th. The biopharmaceutical company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.24. As a group, analysts expect that Cellectar Biosciences Inc will post -1.72 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CVI Holdings LLC acquired a new position in Cellectar Biosciences in the second quarter valued at $231,000. Tang Capital Management LLC acquired a new position in Cellectar Biosciences in the second quarter valued at $1,482,000. Finally, Boxer Capital LLC acquired a new position in Cellectar Biosciences in the second quarter valued at $2,006,000. Institutional investors own 21.30% of the company’s stock.

About Cellectar Biosciences (NASDAQ:CLRB)

Cellectar Biosciences, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for the treatment of cancer. Its lead phospholipid drug conjugate (PDC) candidate is CLR 131, which is in Phase II clinical study in patients with relapsed or refractory (R/R) multiple myeloma (MM) and a range of B-cell malignancies, as well as in Phase I clinical study for R/R MM.

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