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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the recipient of a significant drop in short interest in February. As of February 27th, there was short interest totaling 89,881 shares, a drop of 23.1% from the February 12th total of 116,956 shares. Based on an average trading volume of 20,484 shares, the days-to-cover ratio is currently 4.4 days. Approximately 2.2% of the company’s stock are short sold. Approximately 2.2% of the company’s stock are short sold. Based on an average trading volume of 20,484 shares, the days-to-cover ratio is currently 4.4 days.

Institutional Trading of Cellectar Biosciences

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its position in 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 valued at $62,000 after purchasing an additional 41,704 shares during the period. Riverview Capital Advisers LLC bought a new stake in Cellectar Biosciences in the 2nd quarter worth approximately $75,000. Sequoia Financial Advisors LLC bought a new stake in Cellectar Biosciences in the 3rd quarter worth approximately $60,000. Dimensional Fund Advisors LP purchased a new stake in Cellectar Biosciences during the 3rd quarter valued at $73,000. Finally, Citadel Advisors LLC bought a new position in shares of Cellectar Biosciences during the 3rd quarter valued at $104,000. 16.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CLRB shares. Maxim Group raised shares of Cellectar Biosciences from a “hold” rating to a “buy” rating in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cellectar Biosciences in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Cellectar Biosciences Stock Performance

Shares of NASDAQ:CLRB traded down $0.03 during midday trading on Friday, reaching $3.20. 47,711 shares of the company’s stock traded hands, compared to its average volume of 45,570. Cellectar Biosciences has a one year low of $2.45 and a one year high of $20.60. The company has a market cap of $13.57 million, a price-to-earnings ratio of -0.34 and a beta of 0.31. The stock has a 50 day moving average of $3.28 and a 200 day moving average of $3.79.

Cellectar Biosciences (NASDAQ:CLRB) last released its quarterly earnings data on Wednesday, March 4th. The biopharmaceutical company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.66. Sell-side analysts predict that Cellectar Biosciences will post -1.59 EPS for the current fiscal year.

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.