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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 2,790,000 shares, a growth of 114.6% from the November 30th total of 1,300,000 shares. Based on an average trading volume of 1,560,000 shares, the days-to-cover ratio is presently 1.8 days. Currently, 7.0% of the company’s stock are sold short.

Cellectar Biosciences Price Performance

Shares of CLRB stock opened at $0.31 on Friday. The business has a fifty day moving average of $1.41 and a 200 day moving average of $1.97. Cellectar Biosciences has a 1 year low of $0.22 and a 1 year high of $4.45. 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 (NASDAQ:CLRB) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) EPS for the quarter. As a group, equities research analysts expect that Cellectar Biosciences will post -1.59 earnings per share for the current year.

Institutional Trading of Cellectar Biosciences

Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of 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 during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Cellectar Biosciences during the 3rd quarter valued at about $27,000. Sequoia Financial Advisors LLC acquired a new position in shares of Cellectar Biosciences in the 3rd quarter valued at about $51,000. XTX Topco Ltd boosted its stake in shares of 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 buying an additional 51,413 shares during the last quarter. Finally, AIGH Capital Management LLC grew its holdings in Cellectar Biosciences by 8.2% during the second quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock worth $7,590,000 after acquiring an additional 231,270 shares during the period. 16.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.