Cellectar Biosciences (NASDAQ:CLRB) Releases Earnings Results, Misses Estimates By $0.05 EPS

Cellectar Biosciences (NASDAQ:CLRB) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.05), FiscalAI reports.

Here are the key takeaways from Cellectar Biosciences’ conference call:

• Cellectar reported encouraging 12-month CLOVER-WaM results for iopofosine I-131, including a 62% major response rate, 17.8-month median duration of response, and deeper responses over time in heavily pretreated Waldenström macroglobulinemia patients.
• Site activation has begun for the planned Phase III confirmatory study, with first patient enrollment expected in late 2026 or early 2027 and an accelerated-approval submission targeted for March–April 2027, subject to having sufficient sites and enrollment underway.
• The company’s $35 million upfront financing, with up to $105 million in milestone-linked proceeds, increased cash and equivalents to approximately $34 million and is intended to fund the WM program through potential commercialization.
• Cellectar is expanding beyond WM through its phospholipid drug-conjugate platform, including the Phase Ib CLR 125 program in triple-negative breast cancer and earlier-stage alpha-emitting CLR 225; initial CLR 125 dosimetry, safety, and efficacy data are expected later this year or early next year.
• Second-quarter R&D expenses rose to $4.6 million from $2.4 million year over year, while the company recorded a $6.9 million net loss; future funding also depends partly on warrant exercises tied to clinical and regulatory milestones and stock-price conditions.

Cellectar Biosciences Price Performance

NASDAQ:CLRB traded down $0.15 during trading hours on Thursday, hitting $2.45. The stock had a trading volume of 29,348 shares, compared to its average volume of 464,591. The firm has a market capitalization of $19.58 million, a price-to-earnings ratio of -0.37 and a beta of 0.55. Cellectar Biosciences has a one year low of $2.20 and a one year high of $6.52. The company has a 50 day simple moving average of $2.56 and a two-hundred day simple moving average of $2.86.

Institutional Investors Weigh In On Cellectar Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of CLRB. DRW Securities LLC grew its stake in Cellectar Biosciences by 114.2% in the 4th quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 24,089 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cellectar Biosciences by 15.0% during the 4th quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock valued at $84,000 after buying an additional 3,744 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of Cellectar Biosciences during the 3rd quarter worth $104,000. Dimensional Fund Advisors LP bought a new stake in shares of Cellectar Biosciences during the 3rd quarter worth $73,000. Finally, Bank of America Corp DE grew its position in Cellectar Biosciences by 25.3% in the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 41,704 shares in the last quarter. 16.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CLRB has been the subject of a number of analyst reports. Brookline Capital Markets upgraded shares of Cellectar Biosciences to a “strong-buy” rating in a report on Sunday, July 12th. Wall Street Zen raised shares of Cellectar Biosciences to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Friday, July 17th. LADENBURG THALM/SH SH began coverage on shares of Cellectar Biosciences in a research note on Friday, May 15th. They issued a “buy” rating for the company. Finally, Roth Capital reissued a “buy” rating and set a $11.00 target price on shares of Cellectar Biosciences in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.00.

About Cellectar Biosciences

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.