Short Interest in Cellectar Biosciences, Inc. (NASDAQ:CLRB) Increases By 114.6%

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 2,790,000 shares, an increase of 114.6% from the November 30th total of 1,300,000 shares. Approximately 7.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,560,000 shares, the short-interest ratio is currently 1.8 days.

Cellectar Biosciences Stock Up 0.7 %

Shares of Cellectar Biosciences stock traded up $0.00 on Friday, reaching $0.31. 2,639,981 shares of the stock were exchanged, compared to its average volume of 1,190,404. The business has a 50 day moving average price of $1.41 and a two-hundred day moving average price of $1.97. The firm has a market capitalization of $12.74 million, a price-to-earnings ratio of -0.18 and a beta of 0.89. Cellectar Biosciences has a twelve month low of $0.22 and a twelve month high of $4.45.

Cellectar Biosciences (NASDAQ:CLRB) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) EPS for the quarter. Research analysts forecast that Cellectar Biosciences will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. purchased a new position in Cellectar Biosciences in the third quarter valued at $27,000. Sequoia Financial Advisors LLC purchased a new position in shares of Cellectar Biosciences in the 3rd quarter valued at about $51,000. XTX Topco Ltd raised its holdings in Cellectar Biosciences by 432.4% in the 2nd 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. Geode Capital Management LLC boosted its position in Cellectar Biosciences by 3.3% during the third 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 in the last quarter. Finally, AIGH Capital Management LLC increased its position in shares of Cellectar Biosciences by 8.2% in the second quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock valued at $7,590,000 after buying an additional 231,270 shares in the last quarter. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. LADENBURG THALM/SH SH started coverage on Cellectar Biosciences in a report on Thursday, December 5th. They issued a “buy” rating and a $13.00 target price for the company. Oppenheimer reissued a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th. Finally, StockNews.com assumed coverage on Cellectar Biosciences in a research report on Saturday. They set a “sell” rating for the company.

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.