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

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. bought a new position in Cellectar Biosciences during the 3rd quarter worth approximately $27,000. Sequoia Financial Advisors LLC acquired a new position in shares of Cellectar Biosciences in the 3rd quarter valued at $51,000. XTX Topco Ltd grew its position 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 purchasing an additional 51,413 shares during the period. Geode Capital Management LLC raised its holdings in Cellectar Biosciences by 3.3% during 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 period. Finally, AIGH Capital Management LLC lifted its stake in Cellectar Biosciences by 8.2% in the second quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock valued at $7,590,000 after buying an additional 231,270 shares in the last quarter. 16.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CLRB has been the subject of several research reports. StockNews.com started coverage on shares of Cellectar Biosciences in a research note on Friday, December 20th. They issued a “sell” rating for the company. Oppenheimer reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th. Finally, LADENBURG THALM/SH SH initiated 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.

Cellectar Biosciences Stock Performance

CLRB traded up $0.00 during midday trading on Friday, hitting $0.31. The company had a trading volume of 2,462,911 shares, compared to its average volume of 1,189,472. Cellectar Biosciences has a twelve month low of $0.22 and a twelve month high of $4.45. The firm’s 50-day simple moving average is $1.44 and its 200-day simple moving average is $2.00. The company has a market capitalization of $12.80 million, a PE ratio of -0.18 and a beta of 0.89.

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