Cellectar Biosciences, Inc. (NASDAQ:CLRB) Sees Significant Decline in Short Interest

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the recipient of a significant decline in short interest in January. As of January 30th, there was short interest totaling 132,731 shares, a decline of 31.2% from the January 15th total of 193,022 shares. Approximately 3.3% of the company’s stock are short sold. Based on an average daily volume of 43,655 shares, the short-interest ratio is presently 3.0 days. Based on an average daily volume of 43,655 shares, the short-interest ratio is presently 3.0 days. Approximately 3.3% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold”.

Cellectar Biosciences Stock Up 4.2%

Shares of NASDAQ:CLRB traded up $0.13 on Friday, hitting $3.27. 19,166 shares of the company’s stock were exchanged, compared to its average volume of 34,012. Cellectar Biosciences has a 1-year low of $2.45 and a 1-year high of $20.60. The company has a market capitalization of $13.87 million, a PE ratio of -0.35 and a beta of 0.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.77 and a current ratio of 2.77. The firm’s 50-day moving average is $3.28 and its 200 day moving average is $4.01.

Cellectar Biosciences (NASDAQ:CLRB) last posted its earnings results on Thursday, November 13th. The biopharmaceutical company reported ($1.41) earnings per share for the quarter, topping the consensus estimate of ($1.91) by $0.50. Sell-side analysts predict that Cellectar Biosciences will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in shares of 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 worth $62,000 after buying an additional 41,704 shares during the last quarter. Riverview Capital Advisers LLC acquired a new stake in Cellectar Biosciences during the 2nd quarter worth approximately $75,000. Sequoia Financial Advisors LLC purchased a new position in shares of Cellectar Biosciences in the 3rd quarter valued at approximately $60,000. Dimensional Fund Advisors LP acquired a new position in shares of Cellectar Biosciences in the third quarter valued at approximately $73,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Cellectar Biosciences during the third quarter worth approximately $104,000. 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.