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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 25,500 shares, a decrease of 74.6% from the December 15th total of 100,500 shares. Based on an average daily volume of 354,400 shares, the short-interest ratio is presently 0.1 days.

Shares of NASDAQ:CLRB opened at $0.70 on Friday. The business’s 50 day simple moving average is $0.73 and its two-hundred day simple moving average is $0.90. Cellectar Biosciences has a 52-week low of $0.58 and a 52-week high of $2.98.

Cellectar Biosciences (NASDAQ:CLRB) last announced its quarterly earnings results on Sunday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. Equities research analysts anticipate that Cellectar Biosciences will post -0.44 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Cellectar Biosciences by 14.1% in the second quarter. Vanguard Group Inc. now owns 1,874,584 shares of the biopharmaceutical company’s stock worth $2,230,000 after purchasing an additional 231,180 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Cellectar Biosciences by 13.3% during the second quarter. Renaissance Technologies LLC now owns 1,011,268 shares of the biopharmaceutical company’s stock valued at $1,203,000 after acquiring an additional 118,711 shares during the last quarter. Morgan Stanley increased its position in shares of Cellectar Biosciences by 346.3% during the third quarter. Morgan Stanley now owns 578,361 shares of the biopharmaceutical company’s stock valued at $535,000 after acquiring an additional 448,758 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Cellectar Biosciences by 11.3% during the third quarter. Geode Capital Management LLC now owns 441,883 shares of the biopharmaceutical company’s stock valued at $408,000 after acquiring an additional 44,713 shares during the last quarter. Finally, Sabby Management LLC increased its position in shares of Cellectar Biosciences by 9.6% during the second quarter. Sabby Management LLC now owns 426,561 shares of the biopharmaceutical company’s stock valued at $508,000 after acquiring an additional 37,500 shares during the last quarter. 11.98% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on CLRB shares. Zacks Investment Research upgraded Cellectar Biosciences from a “hold” rating to a “buy” rating and set a $0.75 target price on the stock in a research report on Monday, January 10th. HC Wainwright restated a “buy” rating and set a $3.00 target price on shares of Cellectar Biosciences in a research report on Monday, December 13th.

Cellectar Biosciences Company Profile

Cellectar BioSciences, Inc engages in the development of phospholipid drug conjugates (PDCs) for the treatment and imaging of cancer. Its portfolio includes CLR 131, which seeks to treat relapse or refractory multiple myeloma, CLR 125, which intends to treat micro metastatic disease, CLR 124 which could detects tumors and metastases in a broad range of cancers and CLR 1502, a cancer-targeting near-infrared-fluorophore optical imaging PDC for intraoperative tumor and tumor margin illumination.

Featured Article: Dividend Reinvestment Plan (DRIP)

Receive News & Ratings for Cellectar Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cellectar Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.