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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the target of a significant decrease in short interest in the month of 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. Based on an average trading volume of 72,817 shares, the days-to-cover ratio is presently 0.6 days. Currently, 1.1% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CLRB shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cellectar Biosciences in a research 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 investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cellectar Biosciences has an average rating of “Hold”.

Cellectar Biosciences Stock Performance

CLRB opened at $2.95 on Thursday. The company has a fifty day moving average price of $3.23 and a two-hundred day moving average price of $3.70. The firm has a market capitalization of $12.51 million, a PE ratio of -0.31 and a beta of 0.31. Cellectar Biosciences has a 52 week low of $2.45 and a 52 week high of $20.60.

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

Hedge Funds Weigh In On Cellectar Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLRB. Bank of America Corp DE increased its stake in shares of 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 valued at $62,000 after acquiring an additional 41,704 shares during the last quarter. DRW Securities LLC raised its position in shares of Cellectar Biosciences by 114.2% in the 4th quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 24,089 shares during the period. Geode Capital Management LLC boosted its stake in Cellectar Biosciences by 15.0% during the 4th quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock worth $84,000 after acquiring an additional 3,744 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Cellectar Biosciences by 135.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 25,350 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 14,567 shares during the period. Finally, Citadel Advisors LLC acquired a new position in Cellectar Biosciences during the third quarter valued at approximately $104,000. Institutional investors own 16.41% of the company’s stock.

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.