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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 45,874 shares, a decrease of 49.0% from the February 26th total of 89,881 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily volume of 72,817 shares, the short-interest ratio is currently 0.6 days.

Cellectar Biosciences Stock Performance

Cellectar Biosciences stock opened at $2.70 on Friday. Cellectar Biosciences has a fifty-two week low of $2.45 and a fifty-two week high of $20.60. The stock has a market cap of $11.45 million, a P/E ratio of -0.28 and a beta of 0.31. The firm’s fifty day moving average price is $3.20 and its 200-day moving average price is $3.68.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. XTX Topco Ltd bought a new position in shares of Cellectar Biosciences in the fourth quarter worth approximately $36,000. Sequoia Financial Advisors LLC purchased a new position in Cellectar Biosciences in the 3rd quarter worth approximately $60,000. Bank of America Corp DE grew its stake 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 worth $62,000 after buying an additional 41,704 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Cellectar Biosciences in the 3rd quarter worth $73,000. Finally, Riverview Capital Advisers LLC bought a new position in shares of Cellectar Biosciences in the 2nd quarter worth $75,000. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cellectar Biosciences in a report on Wednesday, January 21st. Maxim Group upgraded shares of Cellectar Biosciences from a “hold” rating to a “buy” rating in a research report on Tuesday, March 10th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

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.