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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the recipient of a large drop in short interest in February. As of February 28th, there was short interest totalling 1,970,000 shares, a drop of 15.8% from the February 13th total of 2,340,000 shares. Currently, 4.4% of the shares of the stock are short sold. Based on an average trading volume of 2,670,000 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CLRB. Squarepoint Ops LLC acquired a new position in Cellectar Biosciences during the fourth quarter valued at approximately $156,000. JPMorgan Chase & Co. grew its holdings in Cellectar Biosciences by 687.3% during the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 159,234 shares during the period. Bank of America Corp DE grew its holdings 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. Oppenheimer & Co. Inc. acquired a new position in Cellectar Biosciences during the third quarter valued at approximately $27,000. Finally, Geode Capital Management LLC grew its holdings in Cellectar Biosciences by 3.3% during the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after purchasing an additional 11,266 shares during the period. Institutional investors and hedge funds own 16.41% of the company’s stock.

Cellectar Biosciences Price Performance

Shares of NASDAQ:CLRB opened at $0.34 on Tuesday. Cellectar Biosciences has a one year low of $0.22 and a one year high of $4.17. The company has a 50 day moving average of $0.29 and a 200-day moving average of $1.14. The stock has a market cap of $15.85 million, a price-to-earnings ratio of -0.20 and a beta of 0.96.

Analyst Ratings Changes

Several brokerages have recently commented on CLRB. LADENBURG THALM/SH SH began coverage on shares of Cellectar Biosciences in a research report on Thursday, December 5th. They set a “buy” rating and a $13.00 price target for the company. StockNews.com began coverage on shares of Cellectar Biosciences in a research report on Tuesday. They set a “sell” rating for the company. Finally, Oppenheimer reiterated a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th.

About Cellectar Biosciences

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.