Cellectar Biosciences, Inc. (NASDAQ:CLRB) Sees Large Increase in Short Interest

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 2,200,000 shares, a growth of 35.8% from the September 15th total of 1,620,000 shares. Currently, 6.3% of the company’s stock are sold short. Based on an average daily volume of 479,000 shares, the short-interest ratio is presently 4.6 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. XTX Topco Ltd lifted its holdings in Cellectar Biosciences by 432.4% during the 2nd quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after purchasing an additional 51,413 shares during the last quarter. Vanguard Group Inc. lifted 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 worth $4,741,000 after buying an additional 708,191 shares during the last quarter. Rosalind Advisors Inc. boosted its holdings in shares of Cellectar Biosciences by 335.4% during the 2nd quarter. Rosalind Advisors Inc. now owns 2,705,616 shares of the biopharmaceutical company’s stock worth $6,764,000 after buying an additional 2,084,138 shares during the period. Finally, AIGH Capital Management LLC grew its stake 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 valued at $7,590,000 after buying an additional 231,270 shares during the last quarter. 16.41% of the stock is owned by institutional investors and hedge funds.

Cellectar Biosciences Stock Performance

Cellectar Biosciences stock remained flat at $2.08 during midday trading on Tuesday. The company had a trading volume of 19,941 shares, compared to its average volume of 956,956. Cellectar Biosciences has a fifty-two week low of $1.82 and a fifty-two week high of $4.45. The company has a market cap of $74.57 million, a price-to-earnings ratio of -0.68 and a beta of 0.99. The firm has a 50 day moving average price of $2.08 and a 200-day moving average price of $2.66.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CLRB shares. Oppenheimer restated an “outperform” rating and issued a $14.00 price target on shares of Cellectar Biosciences in a research note on Friday. StockNews.com upgraded shares of Cellectar Biosciences to a “sell” rating in a report on Thursday, September 26th.

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.