Short Interest in Cellectar Biosciences, Inc. (NASDAQ:CLRB) Declines By 23.1%

Cellectar Biosciences, Inc. (NASDAQ:CLRB) saw 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. Approximately 2.2% of the company’s shares are short sold. Based on an average trading volume of 20,484 shares, the short-interest ratio is currently 4.4 days. Based on an average trading volume of 20,484 shares, the short-interest ratio is currently 4.4 days. Approximately 2.2% of the company’s shares are short sold.

Cellectar Biosciences Price Performance

Shares of NASDAQ:CLRB traded up $0.08 on Tuesday, hitting $3.35. 15,601 shares of the company’s stock were exchanged, compared to its average volume of 74,019. The stock has a market capitalization of $14.21 million, a price-to-earnings ratio of -0.35 and a beta of 0.31. Cellectar Biosciences has a 12 month low of $2.45 and a 12 month high of $20.60. The business’s 50 day simple moving average is $3.28 and its two-hundred day simple moving average is $3.77.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CLRB. Maxim Group raised 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 research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold”.

Hedge Funds Weigh In On Cellectar Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in CLRB. XTX Topco Ltd purchased a new position in Cellectar Biosciences during the fourth quarter valued at approximately $36,000. Sequoia Financial Advisors LLC purchased a new position in shares of Cellectar Biosciences in the 3rd quarter worth approximately $60,000. 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 acquiring an additional 41,704 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in Cellectar Biosciences during the third quarter valued at approximately $73,000. Finally, Riverview Capital Advisers LLC acquired a new stake in Cellectar Biosciences in the second quarter valued at approximately $75,000. Institutional investors own 16.41% of the company’s stock.

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.