Cellectar Biosciences (NASDAQ:CLRB) Stock Price Passes Above Fifty Day Moving Average – Time to Sell?

Cellectar Biosciences, Inc. (NASDAQ:CLRB)’s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $3.25 and traded as high as $4.06. Cellectar Biosciences shares last traded at $3.74, with a volume of 194,825 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cellectar Biosciences in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Cellectar Biosciences presently has an average rating of “Hold”.

Cellectar Biosciences Trading Down 7.4%

The stock has a market cap of $15.86 million, a PE ratio of -0.40 and a beta of 0.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.77 and a current ratio of 2.77. The company has a 50 day moving average of $3.25 and a two-hundred day moving average of $4.27.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings data on Thursday, November 13th. The biopharmaceutical company reported ($1.41) EPS for the quarter, beating the consensus estimate of ($1.91) by $0.50. Sell-side analysts anticipate that Cellectar Biosciences, Inc. will post -1.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cellectar Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Riverview Capital Advisers LLC purchased a new position in Cellectar Biosciences during the second quarter valued at $75,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Cellectar Biosciences during the third quarter worth about $60,000. Dimensional Fund Advisors LP purchased a new stake in shares of Cellectar Biosciences during the third quarter worth about $73,000. Citadel Advisors LLC acquired a new position in shares of Cellectar Biosciences during the 3rd quarter worth about $104,000. Finally, Bank of America Corp DE raised its position in shares of Cellectar Biosciences by 25.3% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Cellectar Biosciences Company Profile

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.