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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 2,840,000 shares, an increase of 27.9% from the July 15th total of 2,220,000 shares. Approximately 8.2% of the shares of the company are short sold. Based on an average trading volume of 633,800 shares, the days-to-cover ratio is currently 4.5 days.

Cellectar Biosciences Stock Up 1.5 %

Cellectar Biosciences stock traded up $0.03 during midday trading on Thursday, reaching $2.03. The stock had a trading volume of 442,936 shares, compared to its average volume of 1,150,831. The firm has a market capitalization of $72.77 million, a PE ratio of -0.65 and a beta of 0.99. Cellectar Biosciences has a 12 month low of $1.60 and a 12 month high of $4.45. The firm’s 50-day moving average price is $2.52 and its 200 day moving average price is $3.15.

Cellectar Biosciences (NASDAQ:CLRB) last announced its quarterly earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.10. Equities research analysts expect that Cellectar Biosciences will post -1.43 EPS for the current year.

Institutional Investors Weigh In On Cellectar Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Worth Venture Partners LLC lifted its stake in Cellectar Biosciences by 148.6% in the 4th quarter. Worth Venture Partners LLC now owns 693,909 shares of the biopharmaceutical company’s stock worth $1,922,000 after purchasing an additional 414,786 shares in the last quarter. AIGH Capital Management LLC boosted its stake in Cellectar Biosciences by 182.7% during the fourth quarter. AIGH Capital Management LLC now owns 1,915,220 shares of the biopharmaceutical company’s stock valued at $5,305,000 after buying an additional 1,237,709 shares during the period. ADAR1 Capital Management LLC purchased a new position in Cellectar Biosciences during the fourth quarter worth about $3,817,000. Vanguard Group Inc. raised its holdings in shares of Cellectar Biosciences by 146.7% in the 1st quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock valued at $4,741,000 after acquiring an additional 708,191 shares in the last quarter. Finally, Rosalind Advisors Inc. boosted its position in shares of Cellectar Biosciences by 335.4% during the 2nd quarter. Rosalind Advisors Inc. now owns 2,705,616 shares of the biopharmaceutical company’s stock valued at $6,764,000 after acquiring an additional 2,084,138 shares during the last quarter. Institutional investors own 16.41% of the company’s 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.