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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) saw a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 45,874 shares, a drop of 49.0% from the February 26th total of 89,881 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily volume of 72,817 shares, the short-interest ratio is presently 0.6 days.

Institutional Investors Weigh In On Cellectar Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new stake in Cellectar Biosciences in the 4th quarter valued at $36,000. Sequoia Financial Advisors LLC acquired a new position in Cellectar Biosciences in the 3rd quarter worth $60,000. Bank of America Corp DE increased its holdings in Cellectar Biosciences by 25.3% during the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 41,704 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Cellectar Biosciences in the 3rd quarter valued at about $73,000. Finally, Riverview Capital Advisers LLC acquired a new stake in shares of Cellectar Biosciences in the 2nd quarter valued at about $75,000. 16.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CLRB has been the subject of several research analyst reports. Maxim Group raised shares of Cellectar Biosciences from a “hold” rating to a “buy” rating in a report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cellectar Biosciences in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Cellectar Biosciences Stock Performance

Shares of CLRB opened at $2.95 on Thursday. The stock has a 50 day simple moving average of $3.23 and a 200 day simple moving average of $3.70. Cellectar Biosciences has a 52-week low of $2.45 and a 52-week high of $20.60. The firm has a market capitalization of $12.51 million, a PE ratio of -0.31 and a beta of 0.31.

Cellectar Biosciences (NASDAQ:CLRB) last announced its earnings results on Wednesday, March 4th. The biopharmaceutical company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.66. Equities research analysts predict that Cellectar Biosciences will post -1.59 EPS for the current fiscal year.

About Cellectar Biosciences

Cellectar Biosciences, Inc is a clinical‐stage biopharmaceutical company focused on the development of targeted cancer therapies and imaging agents. The company’s proprietary phospholipid drug conjugate (PDC) technology platform is designed to selectively deliver therapeutic and diagnostic payloads to malignant cells while sparing healthy tissue. Through its PDC approach, Cellectar aims to improve the efficacy and safety profile of traditional treatments like chemotherapy and radiotherapy.

Its lead therapeutic candidate, CLR 131, is a radioisotope‐labeled PDC being evaluated in Phase II clinical trials for relapsed or refractory B‐cell malignancies, including multiple myeloma and non‐Hodgkin lymphoma.