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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 2,790,000 shares, an increase of 114.6% from the November 30th total of 1,300,000 shares. Approximately 7.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,560,000 shares, the short-interest ratio is presently 1.8 days.

Cellectar Biosciences Stock Up 0.7 %

Shares of Cellectar Biosciences stock traded up $0.00 on Friday, hitting $0.31. 2,639,981 shares of the company were exchanged, compared to its average volume of 1,190,404. The company has a 50-day moving average price of $1.41 and a 200 day moving average price of $1.97. The stock has a market capitalization of $12.74 million, a price-to-earnings ratio of -0.18 and a beta of 0.89. Cellectar Biosciences has a 1-year low of $0.22 and a 1-year high of $4.45.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Cellectar Biosciences by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after buying an additional 11,266 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Cellectar Biosciences during the third quarter worth $27,000. Rosalind Advisors Inc. raised its position in Cellectar Biosciences by 35.7% in the third quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock valued at $7,857,000 after purchasing an additional 965,934 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Cellectar Biosciences in the 3rd quarter valued at $51,000. Finally, XTX Topco Ltd grew its holdings in shares of Cellectar Biosciences by 432.4% during the 2nd 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 period. Institutional investors and hedge funds own 16.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CLRB shares. LADENBURG THALM/SH SH began coverage on Cellectar Biosciences in a report on Thursday, December 5th. They set a “buy” rating and a $13.00 target price for the company. Oppenheimer reissued a “market perform” rating on shares of Cellectar Biosciences in a research note on Wednesday, December 11th. Finally, StockNews.com started coverage on shares of Cellectar Biosciences in a research note on Saturday. They set a “sell” rating on the stock.

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.