Cellectar Biosciences, Inc. (NASDAQ:CLRB) Short Interest Up 48.2% in March

Cellectar Biosciences, Inc. (NASDAQ:CLRB) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 2,920,000 shares, an increase of 48.2% from the February 28th total of 1,970,000 shares. Based on an average daily volume of 1,950,000 shares, the short-interest ratio is presently 1.5 days. Currently, 6.4% of the company’s stock are sold short.

Cellectar Biosciences Stock Performance

CLRB traded down $0.03 during mid-day trading on Friday, reaching $0.33. 759,114 shares of the stock were exchanged, compared to its average volume of 1,154,170. The company has a 50 day moving average price of $0.30 and a two-hundred day moving average price of $1.04. The stock has a market capitalization of $15.43 million, a PE ratio of -0.19 and a beta of 0.96. Cellectar Biosciences has a 1 year low of $0.22 and a 1 year high of $4.15.

Institutional Investors Weigh In On Cellectar Biosciences

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake 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 buying an additional 11,266 shares during the last quarter. Bank of America Corp DE grew its stake in Cellectar Biosciences by 25.3% in the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 41,704 shares during the period. JPMorgan Chase & Co. increased its position in shares of Cellectar Biosciences by 687.3% during the 4th quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 159,234 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Cellectar Biosciences during the 4th quarter worth $156,000. 16.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.