Cellectar Biosciences, Inc. (NASDAQ:CLRB) Short Interest Down 25.1% in January

Cellectar Biosciences, Inc. (NASDAQ:CLRB) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 2,360,000 shares, a drop of 25.1% from the January 15th total of 3,150,000 shares. Based on an average daily volume of 2,610,000 shares, the days-to-cover ratio is presently 0.9 days. Currently, 5.3% of the company’s stock are sold short.

Analyst Ratings Changes

Several research firms have commented on CLRB. Oppenheimer reissued a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th. LADENBURG THALM/SH SH began coverage on Cellectar Biosciences in a research report on Thursday, December 5th. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, StockNews.com began coverage on Cellectar Biosciences in a research report on Friday. They issued a “sell” rating on the stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CLRB. Sequoia Financial Advisors LLC acquired a new position in shares of Cellectar Biosciences in the third quarter worth about $51,000. Rosalind Advisors Inc. raised its stake in Cellectar Biosciences by 35.7% during the third quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock valued at $7,857,000 after buying an additional 965,934 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Cellectar Biosciences during the third quarter valued at approximately $27,000. Geode Capital Management LLC raised its stake in 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 buying an additional 11,266 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Cellectar Biosciences by 687.3% during the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 159,234 shares in the last quarter. Institutional investors and hedge funds own 16.41% of the company’s stock.

Cellectar Biosciences Stock Performance

NASDAQ:CLRB opened at $0.28 on Friday. Cellectar Biosciences has a one year low of $0.22 and a one year high of $4.45. The business’s 50-day simple moving average is $0.36 and its 200 day simple moving average is $1.43. The stock has a market cap of $12.95 million, a price-to-earnings ratio of -0.16 and a beta of 1.05.

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.