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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 1,300,000 shares, an increase of 12.1% from the November 15th total of 1,160,000 shares. Currently, 3.3% of the shares of the company are short sold. Based on an average daily volume of 335,100 shares, the days-to-cover ratio is currently 3.9 days.

Cellectar Biosciences Trading Down 4.0 %

Shares of NASDAQ:CLRB traded down $0.01 during midday trading on Monday, hitting $0.25. The stock had a trading volume of 5,600,819 shares, compared to its average volume of 1,118,288. Cellectar Biosciences has a 1 year low of $0.23 and a 1 year high of $4.45. The stock has a 50 day moving average price of $1.77 and a two-hundred day moving average price of $2.17. The company has a market capitalization of $10.30 million, a PE ratio of -0.15 and a beta of 0.89.

Cellectar Biosciences (NASDAQ:CLRB) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) EPS for the quarter. As a group, equities analysts expect that Cellectar Biosciences will post -1.59 EPS for the current year.

Institutional Investors Weigh In On Cellectar Biosciences

Several institutional investors have recently made changes to their positions in the stock. Rosalind Advisors Inc. boosted its holdings 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 worth $7,857,000 after buying an additional 965,934 shares in the last quarter. AIGH Capital Management LLC lifted its position in shares of Cellectar Biosciences by 8.2% during the 2nd quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock valued at $7,590,000 after acquiring an additional 231,270 shares during the period. Vanguard Group Inc. boosted its stake in shares of Cellectar Biosciences by 146.7% during the 1st quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock worth $4,741,000 after acquiring an additional 708,191 shares in the last quarter. Geode Capital Management LLC grew 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 worth $754,000 after acquiring an additional 11,266 shares during the period. Finally, XTX Topco Ltd raised its holdings in Cellectar Biosciences by 432.4% during the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock worth $158,000 after purchasing an additional 51,413 shares during the last quarter. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CLRB. Oppenheimer reiterated a “market perform” rating on shares of Cellectar Biosciences in a research note on Wednesday, December 11th. LADENBURG THALM/SH SH assumed coverage on shares of Cellectar Biosciences in a research note on Thursday, December 5th. They set a “buy” rating and a $13.00 price target for the company. Finally, StockNews.com raised shares of Cellectar Biosciences to a “sell” rating in a report on Thursday, September 26th.

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.