Cellectar Biosc Down 2.34% To $3.76 After Earnings

Cellectar Biosciences Inc (CLRB) surpassed earnings projections on 3/27/2024 for Q4 2023.





The stock is down 2.34% to $3.76 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Cellectar Biosc a Neutral Sentiment Rank from InvestorsObserver.

Cellectar Biosc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 88, putting Cellectar Biosc in the top 25% of stocks. The firm was recently trading at a 52-week high of $4.45 on March 4, 2024 and set a 52-week low on April 11, 2023 at $1.3.

Cellectar Biosciences Inc is a clinical-stage biopharmaceutical company. It is focused on the discovery, development and commercialization of drugs for the treatment of cancer. The company's core objective is to leverage proprietary phospholipid drug conjugate (PDC) delivery platform to develop PDCs that are designed to specifically target cancer cells and deliver improved efficacy and better safety as a result of fewer off-target effects. Its lead PDC therapeutic, iopofosine is a small-molecule PDC designed to provide targeted delivery of iodine-131 directly to cancer cells, while limiting exposure to healthy cells.