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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 1,840,000 shares, a drop of 6.1% from the October 15th total of 1,960,000 shares. Approximately 4.7% of the shares of the stock are short sold. Based on an average trading volume of 245,400 shares, the days-to-cover ratio is presently 7.5 days.

Cellectar Biosciences Stock Down 9.0 %

Shares of NASDAQ:CLRB opened at $1.61 on Wednesday. The company’s fifty day moving average is $2.07 and its two-hundred day moving average is $2.42. The company has a market cap of $65.32 million, a P/E ratio of -0.63 and a beta of 1.00. Cellectar Biosciences has a 12-month low of $1.57 and a 12-month high of $4.45.

Cellectar Biosciences (NASDAQ:CLRB) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. Equities research analysts anticipate that Cellectar Biosciences will post -1.57 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CLRB. StockNews.com raised Cellectar Biosciences to a “sell” rating in a research report on Thursday, September 26th. Oppenheimer cut their price objective on Cellectar Biosciences from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday.

Hedge Funds Weigh In On Cellectar Biosciences

Large investors have recently made changes to their positions in the business. Rosalind Advisors Inc. boosted its holdings in shares of Cellectar Biosciences by 35.7% during the third quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock worth $7,857,000 after purchasing an additional 965,934 shares during the period. AIGH Capital Management LLC lifted its position in Cellectar Biosciences by 8.2% in the 2nd quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock worth $7,590,000 after buying an additional 231,270 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Cellectar Biosciences by 146.7% during the 1st quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock valued at $4,741,000 after buying an additional 708,191 shares during the period. Geode Capital Management LLC grew its holdings in shares of Cellectar Biosciences by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after acquiring an additional 11,266 shares in the last quarter. Finally, XTX Topco Ltd increased its stake in shares of Cellectar Biosciences by 432.4% in the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock worth $158,000 after acquiring an additional 51,413 shares during the last quarter. Institutional investors and hedge funds own 16.41% of the company’s stock.

Cellectar Biosciences Company Profile

Cellectar Biosciences, Inc, a clinical biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for the treatment of cancer. Its lead phospholipid drug conjugate (PDC) candidate is CLR 131 (iopofosine I-131), which is in Phase 2 clinical study for patients with B-cell malignancies; Phase 2a clinical study for patients with relapsed or refractory (r/r) Waldenstrom's macroglobulinemia cohort, r/r multiple myeloma (MM) cohort, and r/r non-Hodgkin's lymphoma cohort; Phase 1 clinical study for r/r pediatric patients with select solid tumors, lymphomas, and malignant brain tumors; and Phase 1 clinical study for r/r head and neck cancer.