Is Cellectar Biosciences Inc (CLRB) a Stock to Watch After Gaining 6.05% This Week?

Overall market sentiment has been down on Cellectar Biosciences Inc (CLRB) stock lately. CLRB receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator.

Cellectar Biosciences Inc has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on CLRB!

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What is Stock Sentiment?

When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With CLRB Stock Today?

Cellectar Biosciences Inc (CLRB) stock is trading at $3.68 as of 2:31 PM on Monday, Jan 22, an increase of $0.20, or 5.69% from the previous closing price of $3.48. The stock has traded between $3.53 and $3.89 so far today. Volume today is 2,595,114 compared to average volume of 2,080,949.

More About Cellectar Biosciences Inc

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. Click Here to get the full Stock Report for Cellectar Biosciences Inc stock.