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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 2,200,000 shares, an increase of 35.8% from the September 15th total of 1,620,000 shares. Approximately 6.3% of the company’s stock are short sold. Based on an average daily volume of 479,000 shares, the short-interest ratio is currently 4.6 days.

Institutional Trading of Cellectar Biosciences

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Cellectar Biosciences by 146.7% during the first quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock valued at $4,741,000 after acquiring an additional 708,191 shares during the period. Rosalind Advisors Inc. grew its holdings in Cellectar Biosciences by 335.4% in the 2nd quarter. Rosalind Advisors Inc. now owns 2,705,616 shares of the biopharmaceutical company’s stock worth $6,764,000 after buying an additional 2,084,138 shares in the last quarter. AIGH Capital Management LLC increased its position in Cellectar Biosciences by 8.2% in the 2nd quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock valued at $7,590,000 after acquiring an additional 231,270 shares during the period. Finally, XTX Topco Ltd lifted its holdings in Cellectar Biosciences by 432.4% in 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 period. Institutional investors own 16.41% of the company’s stock.

Cellectar Biosciences Price Performance

Shares of NASDAQ:CLRB traded down $0.04 during trading on Tuesday, reaching $2.04. 200,576 shares of the company’s stock traded hands, compared to its average volume of 957,864. The company has a 50 day moving average of $2.08 and a 200-day moving average of $2.66. Cellectar Biosciences has a 12 month low of $1.82 and a 12 month high of $4.45. The stock has a market capitalization of $73.13 million, a P/E ratio of -0.68 and a beta of 0.99.

Analyst Ratings Changes

A number of brokerages have commented on CLRB. StockNews.com upgraded shares of Cellectar Biosciences to a “sell” rating in a report on Thursday, September 26th. Oppenheimer reiterated an “outperform” rating and issued a $14.00 price target on shares of Cellectar Biosciences in a research note on Friday.

About Cellectar Biosciences

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.