Cellectar Biosciences, Inc. (NASDAQ:CLRB) Short Interest Down 15.8% in February

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 1,970,000 shares, a drop of 15.8% from the February 13th total of 2,340,000 shares. Based on an average daily volume of 2,670,000 shares, the days-to-cover ratio is currently 0.7 days. Approximately 4.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Cellectar Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. acquired a new stake in Cellectar Biosciences during the 3rd quarter worth approximately $27,000. JPMorgan Chase & Co. raised its stake in shares of Cellectar Biosciences by 687.3% during the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 159,234 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Cellectar Biosciences by 25.3% during the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 41,704 shares during the period. Squarepoint Ops LLC purchased a new position in Cellectar Biosciences in the 4th quarter valued at $156,000. Finally, Geode Capital Management LLC increased its stake in Cellectar Biosciences by 3.3% in the 3rd 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 during the period. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Cellectar Biosciences Trading Up 1.3 %

NASDAQ:CLRB traded up $0.00 during midday trading on Wednesday, hitting $0.38. 1,318,637 shares of the company were exchanged, compared to its average volume of 1,175,084. The company has a fifty day simple moving average of $0.29 and a 200 day simple moving average of $1.13. Cellectar Biosciences has a fifty-two week low of $0.22 and a fifty-two week high of $4.17. The company has a market capitalization of $17.60 million, a PE ratio of -0.22 and a beta of 0.96.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Cellectar Biosciences in a report on Tuesday. They issued a “sell” rating on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Cellectar Biosciences in a report on Thursday, December 5th. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, Oppenheimer restated a “market perform” rating on shares of Cellectar Biosciences in a 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.