Cellectar Biosciences Inc. [CLRB] Stock trading around $1.13 per share: What’s Next?

Cellectar Biosciences Inc. [NASDAQ: CLRB] price plunged by -3.42 percent to reach at -$0.04. The company report on June 24, 2021 that Cellectar Announces the Election of Dr. Asher Alban Chanan-Khan to Its Board of Directors.

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Cellectar Biosciences, Inc. (NASDAQ: CLRB), a late-stage clinical biopharmaceutical company focused on the discovery and development of drugs for the treatment of cancer, announced that Dr. Asher Alban Chanan-Khan has been elected to its board of directors as an independent director.

“We warmly welcome Asher to our board of directors,” said James Caruso, president and CEO of Cellectar. “Asher’s distinguished medical and scientific oncology experience, particularly in hematologic cancers, will be a tremendous asset to our company. His insight and counsel should prove invaluable as we continue to develop our pipeline of cancer-targeting assets and further optimize our PLE-conjugate platform technology.”.

A sum of 1653811 shares traded at recent session while its average daily volume was at 595.63K shares. Cellectar Biosciences Inc. shares reached a high of $1.17 and dropped to a low of $1.10 until finishing in the latest session at $1.13.

Guru’s Opinion on Cellectar Biosciences Inc. [CLRB]:

Oppenheimer have made an estimate for Cellectar Biosciences Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 01, 2020. While these analysts kept the previous recommendation, ROTH Capital raised their target price to Buy. The new note on the price target was released on January 21, 2020, representing the official price target for Cellectar Biosciences Inc. stock.

The Average True Range (ATR) for Cellectar Biosciences Inc. is set at 0.09 The Price to Book ratio for the last quarter was 1.43, with the Price to Cash per share for the same quarter was set at 1.08.

CLRB Stock Performance Analysis:

Cellectar Biosciences Inc. [CLRB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.60. With this latest performance, CLRB shares dropped by -25.66% in over the last four-week period, additionally sinking by -42.64% over the last 6 months – not to mention a drop of -23.13% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CLRB stock in for the last two-week period is set at 35.63, with the RSI for the last a single of trading hit 32.99, and the three-weeks RSI is set at 37.87 for Cellectar Biosciences Inc. [CLRB]. The present Moving Average for the last 50 days of trading for this stock 1.4064, while it was recorded at 1.1800 for the last single week of trading, and 1.6218 for the last 200 days.

Insight into Cellectar Biosciences Inc. Fundamentals:

Return on Total Capital for CLRB is now -47.28, given the latest momentum, and Return on Invested Capital for the company is -46.75. Return on Equity for this stock declined to -47.28, with Return on Assets sitting at -42.57. When it comes to the capital structure of this company, Cellectar Biosciences Inc. [CLRB] has a Total Debt to Total Equity ratio set at 0.55. Additionally, CLRB Total Debt to Total Capital is recorded at 0.55, with Total Debt to Total Assets ending up at 0.51. Long-Term Debt to Equity for the company is recorded at 0.87, with the Long-Term Debt to Total Capital now at 0.55.

Reflecting on the efficiency of the workforce at the company, Cellectar Biosciences Inc. [CLRB] managed to generate an average of -$1,372,197 per employee.Cellectar Biosciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.80 and a Current Ratio set at 10.80.

Cellectar Biosciences Inc. [CLRB] Insider Position Details

There are presently around $17 million, or 38.80% of CLRB stock, in the hands of institutional investors. The top three institutional holders of CLRB stocks are: CONSONANCE CAPITAL MANAGEMENT LP with ownership of 4,074,074, which is approximately 0% of the company’s market cap and around 0.20% of the total institutional ownership; SIO CAPITAL MANAGEMENT, LLC, holding 2,188,058 shares of the stock with an approximate value of $2.47 million in CLRB stocks shares; and VANGUARD GROUP INC, currently with $1.86 million in CLRB stock with ownership of nearly 8.581% of the company’s market capitalization.

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Positions in Cellectar Biosciences Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 28 institutional holders increased their position in Cellectar Biosciences Inc. [NASDAQ:CLRB] by around 2,881,993 shares. Additionally, 17 investors decreased positions by around 5,518,275 shares, while 12 investors held positions by with 6,653,610 shares. The mentioned changes placed institutional holdings at 15,053,878 shares, according to the latest SEC report filing. CLRB stock had 16 new institutional investments in for a total of 1,096,090 shares, while 11 institutional investors sold positions of 3,259,770 shares during the same period.

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