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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the target of a large drop in short interest during 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 shares of the company are short sold. Based on an average daily volume of 82,133 shares, the short-interest ratio is presently 1.0 days. Based on an average daily volume of 82,133 shares, the short-interest ratio is presently 1.0 days. Currently, 2.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

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

Cellectar Biosciences Price Performance

NASDAQ CLRB traded down $0.06 during trading on Friday, hitting $3.59. 36,191 shares of the company’s stock were exchanged, compared to its average volume of 129,482. The company has a market cap of $15.22 million, a PE ratio of -0.39 and a beta of 0.32. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.04. Cellectar Biosciences has a fifty-two week low of $2.45 and a fifty-two week high of $20.60. The stock’s 50 day moving average price is $3.26 and its two-hundred day moving average price is $4.24.

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, beating the consensus estimate of ($1.91) by $0.50. Research analysts expect that Cellectar Biosciences will post -1.59 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Cellectar Biosciences has an average rating of “Hold”.

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.