Short Interest in Cellectar Biosciences, Inc. (NASDAQ:CLRB) Decreases By 21.5%

Cellectar Biosciences, Inc. (NASDAQ:CLRB) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 83,230 shares, a drop of 21.5% from the December 15th total of 106,028 shares. Based on an average trading volume of 82,133 shares, the days-to-cover ratio is presently 1.0 days. Currently, 2.1% of the shares of the stock are short sold. Currently, 2.1% of the shares of the stock are short sold. Based on an average trading volume of 82,133 shares, the days-to-cover ratio is presently 1.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold”.

Cellectar Biosciences Price Performance

Cellectar Biosciences stock traded down $0.03 during midday trading on Tuesday, hitting $3.57. The company’s stock had a trading volume of 44,165 shares, compared to its average volume of 179,926. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $15.12 million, a PE ratio of -0.38 and a beta of 0.32. Cellectar Biosciences has a 12 month low of $2.45 and a 12 month high of $20.60. The stock’s 50-day moving average price is $3.26 and its 200-day moving average price is $4.22.

Cellectar Biosciences (NASDAQ:CLRB) last announced its quarterly earnings data on Thursday, November 13th. The biopharmaceutical company reported ($1.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.91) by $0.50. Analysts anticipate that Cellectar Biosciences will post -1.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cellectar Biosciences

Several large investors have recently made changes to their positions in CLRB. Bank of America Corp DE lifted its position in shares of Cellectar Biosciences by 25.3% during 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 period. Citadel Advisors LLC acquired a new position in shares of Cellectar Biosciences during the third quarter worth $104,000. Dimensional Fund Advisors LP acquired a new position in shares of Cellectar Biosciences in the third quarter worth approximately $73,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Cellectar Biosciences during the third quarter worth $60,000. Finally, Riverview Capital Advisers LLC bought a new position in shares of Cellectar Biosciences in the 2nd quarter worth about $75,000. Institutional investors and hedge funds 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.