Why Cellectar Biosciences Inc. (CLRB) Stock Could See Much Higher Prices Ahead

Cellectar Biosciences Inc. (NASDAQ: CLRB) is -25.96% lower on its value in year-to-date trading and has touched a low of $1.01 and a high of $2.98 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CLRB stock was last observed hovering at around $1.60 in the last trading session, with the day’s loss setting it -0.06% off its average median price target of $5.50 for the next 12 months. It is also 84.6% off the consensus price target high of $10.00 offered by 5 analysts, but current levels are 48.67% higher than the price target low of $3.00 for the same period.

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Currently trading at $1.54, the stock is -13.04% and -21.79% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.74 million and changing -3.75% at the moment leaves the stock -3.10% off its SMA200. CLRB registered 31.06% gain for a year compared to 6-month gain of 27.27%. The firm has a 50-day simple moving average (SMA 50) of $1.9097 and a 200-day simple moving average (SMA200) of $1.7148.

The stock witnessed a -10.98% loss in the last 1 month and extending the period to 3 months gives it a -25.60%, and is 1.32% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.61% over the week and 8.01% over the month.

Distance from 52-week low is 52.48% and -48.32% from its 52-week high.

Cellectar Biosciences Inc. (CLRB) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Cellectar Biosciences Inc. (CLRB) is a “Buy”. 5 analysts offering their recommendations for the stock have an average rating of 1.70, where 0 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Cellectar Biosciences Inc. is expected to release its quarterly report on 08/16/2021 and quarterly earnings per share for the current quarter are estimated at -$0.1.The EPS is expected to grow by 58.50% this year.

Cellectar Biosciences Inc. (CLRB) Top Institutional Holders

49 institutions hold shares in Cellectar Biosciences Inc. (CLRB), with 5.03M shares held by insiders accounting for 9.96% while institutional investors hold 50.77% of the company’s shares. The shares outstanding are 50.50M, and float is at 40.70M with Short Float at 5.28%. Institutions hold 45.71% of the Float.

The top institutional shareholder in the company is Consonance Capital Management LP with over 4.07 million shares valued at $8.47 million. The investor’s holdings represent 8.07% of the CLRB Shares outstanding. As of Dec 30, 2020, the second largest holder is Sio Capital Management, LLC with 2.33 million shares valued at $4.85 million to account for 4.62% of the shares outstanding. The other top investors are SilverArc Capital Management, LLC which holds 1.77 million shares representing 3.51% and valued at over $3.69 million, while Maven Securities Limited holds 3.42% of the shares totaling 1.73 million with a market value of $3.59 million.

Cellectar Biosciences Inc. (CLRB) Insider Activity

A total of 4 insider transactions have happened at Cellectar Biosciences Inc. (CLRB) in the last six months, with sales accounting for 0 and purchases happening 4 times. The most recent transaction is an insider purchase by CARUSO JAMES V ,the company’sPresident and CEO. SEC filings show that CARUSO JAMES V bought 5,100 shares of the company’s common stock on Mar 04 at a price of $1.70 per share for a total of $8659.0. Following the purchase, the insider now owns 86401.0 shares.

Cellectar Biosciences Inc. disclosed in a document filed with the SEC on Dec 28 that Longcor Jarrod (Chief Business Officer) bought a total of 29,630 shares of the company’s common stock. The trade occurred on Dec 28 and was made at $1.35 per share for $40000.0. Following the transaction, the insider now directly holds 0.1 million shares of the CLRB stock.

Still, SEC filings show that on Dec 28, CARUSO JAMES V (President and CEO) acquired 37,037 shares at an average price of $1.35 for $50000.0. The insider now directly holds 81,301 shares of Cellectar Biosciences Inc. (CLRB).

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