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

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

Wall Street Analysts Forecast Growth

CLRB has been the subject of a number of analyst reports. Oppenheimer reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a research note on Wednesday, December 11th. LADENBURG THALM/SH SH initiated coverage on shares of Cellectar Biosciences in a report on Thursday, December 5th. They issued a “buy” rating and a $13.00 target price on the stock. Finally, StockNews.com initiated coverage on shares of Cellectar Biosciences in a report on Monday. They issued a “sell” rating for the company.

Institutional Inflows and Outflows

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

Cellectar Biosciences Trading Down 9.8 %

Shares of CLRB stock 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. The company has a market capitalization of $10.24 million, a PE ratio of -0.14 and a beta of 1.04. Cellectar Biosciences has a 52 week low of $0.22 and a 52 week high of $4.45. The business has a 50 day moving average of $0.99 and a two-hundred day moving average of $1.75.

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

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.