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

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

Cellectar Biosciences Trading Down 1.1 %

NASDAQ:CLRB traded down $0.02 during mid-day trading on Monday, hitting $1.84. The stock had a trading volume of 115,763 shares, compared to its average volume of 883,819. Cellectar Biosciences has a 52 week low of $1.82 and a 52 week high of $4.45. The stock has a market capitalization of $74.64 million, a price-to-earnings ratio of -0.74 and a beta of 1.00. The company has a 50 day simple moving average of $2.07 and a 200-day simple moving average of $2.43.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter. As a group, equities research analysts anticipate that Cellectar Biosciences will post -1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CLRB has been the subject of a number of research reports. StockNews.com raised shares of Cellectar Biosciences to a “sell” rating in a report on Thursday, September 26th. Oppenheimer restated an “outperform” rating and set a $14.00 price objective on shares of Cellectar Biosciences in a research report on Friday, October 11th.

Hedge Funds Weigh In On Cellectar Biosciences

Several large investors have recently bought and sold shares of CLRB. Oppenheimer & Co. Inc. acquired a new position in shares of Cellectar Biosciences during the 3rd quarter valued at $27,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Cellectar Biosciences during the third quarter worth $51,000. XTX Topco Ltd increased its position 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Cellectar Biosciences by 3.3% in 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, Vanguard Group Inc. boosted its position in shares of Cellectar Biosciences by 146.7% in the first 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 period. 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.