Cellectar Biosciences, Inc. (NASDAQ:CLRB) Sees Significant Decline in Short Interest

Cellectar Biosciences, Inc. (NASDAQ:CLRB) saw a large decline in short interest in the month of January. As of January 30th, there was short interest totaling 132,731 shares, a decline of 31.2% from the January 15th total of 193,022 shares. Approximately 3.3% of the shares of the company are sold short. Based on an average trading volume of 43,655 shares, the days-to-cover ratio is currently 3.0 days. Based on an average trading volume of 43,655 shares, the days-to-cover ratio is currently 3.0 days. Approximately 3.3% of the shares of the company are sold short.

Cellectar Biosciences Stock Up 4.2%

CLRB stock traded up $0.13 during trading on Friday, reaching $3.27. 19,166 shares of the company traded hands, compared to its average volume of 34,012. The company has a market capitalization of $13.87 million, a price-to-earnings ratio of -0.35 and a beta of 0.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.77 and a current ratio of 2.77. The business has a 50 day simple moving average of $3.28 and a 200 day simple moving average of $4.01. Cellectar Biosciences has a 12 month low of $2.45 and a 12 month high of $20.60.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings results on Thursday, November 13th. The biopharmaceutical company reported ($1.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.50. On average, equities research analysts anticipate that Cellectar Biosciences will post -1.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cellectar Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. DRW Securities LLC lifted its stake in shares of Cellectar Biosciences by 114.2% in the fourth quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 24,089 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cellectar Biosciences by 15.0% in the 4th quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock valued at $84,000 after acquiring an additional 3,744 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Cellectar Biosciences by 135.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 25,350 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 14,567 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Cellectar Biosciences during the 3rd quarter worth approximately $104,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Cellectar Biosciences during the 3rd quarter worth approximately $73,000. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold”.

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.