Cellectar Biosciences, Inc. (NASDAQ:CLRB) Short Interest Down 15.8% in February

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the target of a significant drop in short interest in the month of 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. Approximately 4.4% of the company’s stock are sold short. Based on an average daily volume of 2,670,000 shares, the days-to-cover ratio is presently 0.7 days.

Hedge Funds Weigh In On Cellectar Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in Cellectar Biosciences by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock worth $754,000 after acquiring an additional 11,266 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Cellectar Biosciences during the third quarter worth about $27,000. 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 purchasing an additional 41,704 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Cellectar Biosciences by 687.3% during the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 159,234 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Cellectar Biosciences in the 4th quarter valued at about $156,000. 16.41% of the stock is owned by institutional investors and hedge funds.

Cellectar Biosciences Price Performance

Shares of NASDAQ CLRB opened at $0.39 on Thursday. The business has a 50-day moving average of $0.29 and a two-hundred day moving average of $1.12. The company has a market capitalization of $17.77 million, a price-to-earnings ratio of -0.22 and a beta of 0.96. Cellectar Biosciences has a 1 year low of $0.22 and a 1 year high of $4.17.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CLRB. StockNews.com assumed coverage on shares of Cellectar Biosciences in a report on Tuesday. They set a “sell” rating on the stock. LADENBURG THALM/SH SH assumed coverage on Cellectar Biosciences in a research note on Thursday, December 5th. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, Oppenheimer reissued a “market perform” rating on shares of Cellectar Biosciences in a research note on Wednesday, December 11th.

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.