Cellectar Biosciences, Inc. (NASDAQ:CLRB) Sees Significant Decrease in Short Interest

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 83,230 shares, a drop of 21.5% from the December 15th total of 106,028 shares. Currently, 2.1% of the company’s stock are sold short. Based on an average daily trading volume, of 82,133 shares, the short-interest ratio is currently 1.0 days. Based on an average daily trading volume, of 82,133 shares, the short-interest ratio is currently 1.0 days. Currently, 2.1% of the company’s stock are sold short.

Cellectar Biosciences Stock Down 1.6%

Cellectar Biosciences stock traded down $0.06 during midday trading on Friday, reaching $3.59. The stock had a trading volume of 36,191 shares, compared to its average volume of 129,482. The stock has a market capitalization of $15.22 million, a P/E ratio of -0.39 and a beta of 0.32. The firm’s fifty day simple moving average is $3.26 and its 200-day simple moving average is $4.24. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.77 and a current ratio of 2.77. Cellectar Biosciences has a 1-year low of $2.45 and a 1-year high of $20.60.

Cellectar Biosciences (NASDAQ:CLRB) last released its quarterly earnings results on Thursday, November 13th. The biopharmaceutical company reported ($1.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.50. As a group, analysts expect that Cellectar Biosciences will post -1.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold”.

Institutional Trading of Cellectar Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in Cellectar Biosciences by 25.3% in the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 41,704 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Cellectar Biosciences in the 3rd quarter valued at approximately $104,000. Dimensional Fund Advisors LP bought a new position in shares of Cellectar Biosciences in the third quarter valued at $73,000. Sequoia Financial Advisors LLC acquired a new position in Cellectar Biosciences during the third quarter worth $60,000. Finally, Riverview Capital Advisers LLC acquired a new position in Cellectar Biosciences during the second quarter worth $75,000. Institutional investors own 16.41% of the company’s stock.

About Cellectar Biosciences

Cellectar Biosciences, Inc is a clinical‐stage biopharmaceutical company focused on the development of targeted cancer therapies and imaging agents. The company’s proprietary phospholipid drug conjugate (PDC) technology platform is designed to selectively deliver therapeutic and diagnostic payloads to malignant cells while sparing healthy tissue. Through its PDC approach, Cellectar aims to improve the efficacy and safety profile of traditional treatments like chemotherapy and radiotherapy.

Its lead therapeutic candidate, CLR 131, is a radioisotope‐labeled PDC being evaluated in Phase II clinical trials for relapsed or refractory B‐cell malignancies, including multiple myeloma and non‐Hodgkin lymphoma.