Short Interest in Cellectar Biosciences, Inc. (NASDAQ:CLRB) Decreases By 32.6%

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the target of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 1,880,000 shares, a decrease of 32.6% from the December 15th total of 2,790,000 shares. Based on an average daily trading volume, of 1,850,000 shares, the short-interest ratio is currently 1.0 days. Currently, 4.7% of the shares of the company are sold short.

Hedge Funds Weigh In On Cellectar Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its position in Cellectar Biosciences by 3.3% in the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after acquiring an additional 11,266 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Cellectar Biosciences in the 3rd quarter valued at approximately $27,000. Sequoia Financial Advisors LLC bought a new stake in shares of Cellectar Biosciences during the 3rd quarter valued at approximately $51,000. XTX Topco Ltd grew its holdings in shares of Cellectar Biosciences by 432.4% during the 2nd quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after purchasing an additional 51,413 shares during the last quarter. Finally, Rosalind Advisors Inc. increased its position in 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 purchasing an additional 965,934 shares in the last quarter. Institutional investors own 16.41% of the company’s stock.

Cellectar Biosciences Stock Down 9.8 %

Shares of CLRB traded down $0.03 during trading hours on Wednesday, hitting $0.25. 3,546,984 shares of the company were exchanged, compared to its average volume of 3,931,602. Cellectar Biosciences has a fifty-two week low of $0.22 and a fifty-two week high of $4.45. The company has a market cap of $10.24 million, a price-to-earnings ratio of -0.14 and a beta of 1.04. The firm’s fifty day moving average is $0.99 and its 200 day moving average is $1.75.

Cellectar Biosciences (NASDAQ:CLRB) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) EPS for the quarter. Analysts anticipate that Cellectar Biosciences will post -1.59 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CLRB. Oppenheimer restated a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th. 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 price objective on the stock. Finally, StockNews.com started coverage on shares of Cellectar Biosciences in a research report on Monday. They issued a “sell” rating for the company.

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.