Short Interest in Cellectar Biosciences, Inc. (NASDAQ:CLRB) Declines By 6.1%

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,840,000 shares, a decrease of 6.1% from the October 15th total of 1,960,000 shares. Based on an average daily trading volume, of 245,400 shares, the short-interest ratio is currently 7.5 days. Approximately 4.7% of the company’s stock are short sold.

Analyst Ratings Changes

A number of analysts have issued reports on CLRB shares. Oppenheimer reiterated an “outperform” rating and issued a $14.00 target price on shares of Cellectar Biosciences in a research note on Friday, October 11th. StockNews.com raised shares of Cellectar Biosciences to a “sell” rating in a research note on Thursday, September 26th.

Institutional Investors Weigh In On Cellectar Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of Cellectar Biosciences by 3.3% during the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after acquiring an additional 11,266 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Cellectar Biosciences in the third quarter valued at about $27,000. Rosalind Advisors Inc. raised its position in shares of 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 acquiring an additional 965,934 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Cellectar Biosciences in the third quarter worth about $51,000. Finally, XTX Topco Ltd lifted its holdings in Cellectar Biosciences by 432.4% in the second 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 during the period. 16.41% of the stock is owned by institutional investors and hedge funds.

Cellectar Biosciences Trading Down 1.1 %

NASDAQ:CLRB traded down $0.02 during mid-day trading on Monday, hitting $1.84. 115,763 shares of the company’s stock traded hands, compared to its average volume of 883,819. The firm has a market capitalization of $74.64 million, a price-to-earnings ratio of -0.74 and a beta of 1.00. The firm has a 50 day moving average of $2.07 and a two-hundred day moving average of $2.43. Cellectar Biosciences has a 12 month low of $1.82 and a 12 month high of $4.45.

Cellectar Biosciences (NASDAQ:CLRB) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) EPS for the quarter. As a group, equities research analysts expect that Cellectar Biosciences will post -1.57 earnings per share 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.