Cellectar Biosciences, Inc. (NASDAQ:CLRB) Sees Large Decline in Short Interest

Cellectar Biosciences, Inc. (NASDAQ:CLRB) saw a large decrease in short interest in January. As of January 30th, there was short interest totaling 132,731 shares, a decrease of 31.2% from the January 15th total of 193,022 shares. Based on an average trading volume of 43,655 shares, the short-interest ratio is presently 3.0 days. Approximately 3.3% of the shares of the stock are short sold. Approximately 3.3% of the shares of the stock are short sold. Based on an average trading volume of 43,655 shares, the short-interest ratio is presently 3.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cellectar Biosciences in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Cellectar Biosciences Trading Up 4.2%

CLRB stock traded up $0.13 during trading on Friday, reaching $3.27. 19,166 shares of the stock were exchanged, compared to its average volume of 34,012. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $13.87 million, a price-to-earnings ratio of -0.35 and a beta of 0.32. The business has a 50 day moving average price of $3.28 and a 200-day moving average price of $4.01. Cellectar Biosciences has a 1 year low of $2.45 and a 1 year high of $20.60.

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

Hedge Funds Weigh In On Cellectar Biosciences

Several large investors have recently modified their holdings of the business. DRW Securities LLC increased its position in shares of Cellectar Biosciences by 114.2% during the 4th quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 24,089 shares during the last quarter. Geode Capital Management LLC boosted its stake in Cellectar Biosciences by 15.0% during the fourth quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock worth $84,000 after buying an additional 3,744 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Cellectar Biosciences during the third quarter valued at about $104,000. Dimensional Fund Advisors LP acquired a new position in shares of Cellectar Biosciences in the 3rd quarter worth approximately $73,000. Finally, Bank of America Corp DE increased its holdings in Cellectar Biosciences by 25.3% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 16.41% of the company’s stock.

Cellectar Biosciences Company Profile

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.