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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,160,000 shares, a decrease of 37.0% from the October 31st total of 1,840,000 shares. Based on an average trading volume of 322,500 shares, the days-to-cover ratio is currently 3.6 days. Approximately 2.9% of the shares of the stock are short sold.

Cellectar Biosciences Trading Down 1.9 %

Shares of CLRB traded down $0.03 during trading hours on Thursday, hitting $1.53. 200,353 shares of the stock traded hands, compared to its average volume of 885,738. The business has a fifty day moving average of $1.99 and a 200-day moving average of $2.34. The firm has a market capitalization of $63.14 million, a PE ratio of -0.89 and a beta of 1.00. Cellectar Biosciences has a 1-year low of $1.39 and a 1-year high of $4.45.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) EPS for the quarter. As a group, equities research analysts expect that Cellectar Biosciences will post -1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cellectar Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of CLRB. Rosalind Advisors Inc. grew its position in shares of Cellectar Biosciences by 35.7% during the 3rd quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock worth $7,857,000 after buying an additional 965,934 shares during the period. AIGH Capital Management LLC boosted its stake in Cellectar Biosciences by 8.2% during the 2nd quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock worth $7,590,000 after acquiring an additional 231,270 shares during the last quarter. Vanguard Group Inc. grew its holdings in Cellectar Biosciences by 146.7% during the first quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock valued at $4,741,000 after purchasing an additional 708,191 shares during the period. Geode Capital Management LLC increased its stake in Cellectar Biosciences by 3.3% in the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after purchasing an additional 11,266 shares in the last quarter. Finally, XTX Topco Ltd increased its stake in Cellectar Biosciences by 432.4% in the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after purchasing an additional 51,413 shares in the last quarter. 16.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CLRB. StockNews.com raised shares of Cellectar Biosciences to a “sell” rating in a research note on Thursday, September 26th. Oppenheimer dropped their price objective on shares of Cellectar Biosciences from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th.

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.