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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 1,160,000 shares, a decline of 37.0% from the October 31st total of 1,840,000 shares. Based on an average daily trading volume, of 322,500 shares, the short-interest ratio is presently 3.6 days. Approximately 2.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On Cellectar Biosciences

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Cellectar Biosciences by 146.7% during the first quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock valued at $4,741,000 after acquiring an additional 708,191 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Cellectar Biosciences in the 3rd quarter worth $51,000. Rosalind Advisors Inc. increased its stake in Cellectar Biosciences by 35.7% during the third quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock valued at $7,857,000 after acquiring an additional 965,934 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Cellectar Biosciences during the third quarter valued at approximately $27,000. Finally, XTX Topco Ltd raised its stake in shares of 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 buying an additional 51,413 shares in the last quarter. Institutional investors and hedge funds own 16.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CLRB shares. StockNews.com raised Cellectar Biosciences to a “sell” rating in a research note on Thursday, September 26th. Oppenheimer lowered their price objective on shares of Cellectar Biosciences from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th.

Cellectar Biosciences Trading Down 1.9 %

Shares of NASDAQ CLRB traded down $0.03 during mid-day trading on Thursday, reaching $1.53. The company had a trading volume of 200,353 shares, compared to its average volume of 885,738. The company has a 50-day moving average price of $1.99 and a two-hundred day moving average price of $2.34. The stock has a market cap of $63.14 million, a PE ratio of -0.89 and a beta of 1.00. Cellectar Biosciences has a 1-year low of $1.39 and a 1-year high of $4.45.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. On average, research analysts expect that Cellectar Biosciences will post -1.53 EPS for the current year.

Cellectar Biosciences Company Profile

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.