Cellectar Biosciences (NASDAQ:CLRB) Shares Gap Down - What's Next?

Shares of Cellectar Biosciences, Inc. (NASDAQ:CLRB - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $8.93, but opened at $8.55. Cellectar Biosciences shares last traded at $9.61, with a volume of 139,667 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Maxim Group reiterated a "hold" rating on shares of Cellectar Biosciences in a report on Wednesday, May 14th. Wall Street Zen began coverage on shares of Cellectar Biosciences in a research report on Wednesday, May 21st. They issued a "sell" rating for the company.

Cellectar Biosciences Price Performance

The stock has a market cap of $14.30 million, a P/E ratio of -0.36 and a beta of 0.52. The company has a fifty day moving average of $8.93 and a 200 day moving average of $9.02.

Cellectar Biosciences (NASDAQ:CLRB - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($3.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($5.10) by $1.20. As a group, analysts anticipate that Cellectar Biosciences, Inc. will post -1.59 EPS for the current year.

Institutional Investors Weigh In On Cellectar Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in shares of Cellectar Biosciences by 687.3% in the 4th quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company's stock worth $55,000 after purchasing an additional 159,234 shares during the last quarter. Bank of America Corp DE lifted its stake in 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 valued at $62,000 after purchasing an additional 41,704 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Cellectar Biosciences during the fourth quarter worth approximately $156,000. Sequoia Financial Advisors LLC grew its position in Cellectar Biosciences by 1,301.8% in the first quarter. Sequoia Financial Advisors LLC now owns 203,260 shares of the biopharmaceutical company's stock worth $64,000 after buying an additional 188,760 shares during the last quarter. Finally, XTX Topco Ltd grew its position in Cellectar Biosciences by 122.6% in the first quarter. XTX Topco Ltd now owns 104,323 shares of the biopharmaceutical company's stock worth $33,000 after buying an additional 57,447 shares during the last quarter. 16.41% of the stock is currently owned by institutional investors.

About Cellectar Biosciences

Cellectar Biosciences, Inc, a clinical 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 (iopofosine I-131), which is in Phase 2 clinical study for patients with B-cell malignancies; Phase 2a clinical study for patients with relapsed or refractory (r/r) Waldenstrom's macroglobulinemia cohort, r/r multiple myeloma (MM) cohort, and r/r non-Hodgkin's lymphoma cohort; Phase 1 clinical study for r/r pediatric patients with select solid tumors, lymphomas, and malignant brain tumors; and Phase 1 clinical study for r/r head and neck cancer.