Cellectar Biosciences, Inc. (NASDAQ:CLRB) Short Interest Down 31.1% in December

Cellectar Biosciences, Inc. (NASDAQ:CLRB) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totaling 106,028 shares, a decrease of 31.1% from the November 30th total of 153,807 shares. Based on an average daily trading volume, of 41,892 shares, the days-to-cover ratio is presently 2.5 days. Approximately 2.6% of the company’s shares are short sold. Approximately 2.6% of the company’s shares are short sold. Based on an average daily trading volume, of 41,892 shares, the days-to-cover ratio is presently 2.5 days.

Cellectar Biosciences Stock Performance

Shares of CLRB stock opened at $2.56 on Monday. The firm has a 50 day moving average of $3.34 and a 200-day moving average of $4.85. The company has a market cap of $10.85 million, a price-to-earnings ratio of -0.28 and a beta of 0.47. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.04. Cellectar Biosciences has a 52 week low of $2.45 and a 52 week high of $20.60.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Cellectar Biosciences

Large investors have recently made changes to their positions in the company. Citadel Advisors LLC bought a new stake in Cellectar Biosciences in the 3rd quarter valued at about $104,000. Dimensional Fund Advisors LP bought a new position in Cellectar Biosciences in the third quarter worth approximately $73,000. Sequoia Financial Advisors LLC acquired a new stake in Cellectar Biosciences in the third quarter valued at approximately $60,000. Riverview Capital Advisers LLC bought a new stake in shares of Cellectar Biosciences during the second quarter valued at approximately $75,000. Finally, Bank of America Corp DE raised its position 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. 16.41% of the stock is currently owned by institutional investors and hedge funds.

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.