Cellectar Biosciences, Inc. (NASDAQ:CLRB) Short Interest Update

Cellectar Biosciences, Inc. (NASDAQ:CLRB) saw a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 1,300,000 shares, a growth of 12.1% from the November 15th total of 1,160,000 shares. Based on an average daily trading volume, of 335,100 shares, the days-to-cover ratio is presently 3.9 days. Currently, 3.3% of the company’s shares are sold short.

Cellectar Biosciences Trading Down 4.0 %

CLRB traded down $0.01 during trading hours on Monday, hitting $0.25. 5,600,819 shares of the company’s stock were exchanged, compared to its average volume of 1,118,288. The firm has a market cap of $10.30 million, a P/E ratio of -0.15 and a beta of 0.89. Cellectar Biosciences has a 12-month low of $0.23 and a 12-month high of $4.45. The firm has a 50 day moving average of $1.77 and a 200 day moving average of $2.17.

Cellectar Biosciences (NASDAQ:CLRB) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter. As a group, research analysts expect that Cellectar Biosciences will post -1.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Cellectar Biosciences by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock worth $754,000 after purchasing an additional 11,266 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Cellectar Biosciences during the 3rd quarter worth about $27,000. Rosalind Advisors Inc. boosted its position in shares of Cellectar Biosciences by 35.7% during the 3rd quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock worth $7,857,000 after acquiring an additional 965,934 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Cellectar Biosciences during the 3rd quarter worth about $51,000. Finally, XTX Topco Ltd lifted its stake in Cellectar Biosciences by 432.4% during the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock worth $158,000 after purchasing an additional 51,413 shares during the last quarter. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. LADENBURG THALM/SH SH initiated coverage on shares of Cellectar Biosciences in a research report on Thursday, December 5th. They set a “buy” rating and a $13.00 price target for the company. StockNews.com upgraded shares of Cellectar Biosciences to a “sell” rating in a report on Thursday, September 26th. Finally, Oppenheimer restated a “market perform” rating on shares of Cellectar Biosciences in a research note on Wednesday, December 11th.

Cellectar Biosciences Company Profile

Cellectar Biosciences, Inc, a clinical biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for the treatment of cancer. Its lead phospholipid drug conjugate (PDC) candidate is CLR 131 (iopofosine I-131), which is in Phase 2 clinical study for patients with B-cell malignancies; Phase 2a clinical study for patients with relapsed or refractory (r/r) Waldenstrom's macroglobulinemia cohort, r/r multiple myeloma (MM) cohort, and r/r non-Hodgkin's lymphoma cohort; Phase 1 clinical study for r/r pediatric patients with select solid tumors, lymphomas, and malignant brain tumors; and Phase 1 clinical study for r/r head and neck cancer.