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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) saw a large decline in short interest during the month of February. As of February 27th, there was short interest totaling 89,881 shares, a decline of 23.1% from the February 12th total of 116,956 shares. Based on an average daily volume of 20,484 shares, the days-to-cover ratio is currently 4.4 days. Currently, 2.2% of the shares of the stock are sold short. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 20,484 shares, the days-to-cover ratio is currently 4.4 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CLRB shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Wednesday, January 21st. Maxim Group upgraded shares of Cellectar Biosciences from a “hold” rating to a “buy” rating in a research report on Tuesday, March 10th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Cellectar Biosciences presently has a consensus rating of “Hold”.

Cellectar Biosciences Stock Performance

NASDAQ CLRB opened at $3.20 on Monday. The stock’s fifty day moving average is $3.28 and its two-hundred day moving average is $3.78. The firm has a market capitalization of $13.57 million, a P/E ratio of -0.34 and a beta of 0.31. Cellectar Biosciences has a fifty-two week low of $2.45 and a fifty-two week high of $20.60.

Cellectar Biosciences (NASDAQ:CLRB) last issued its earnings results on Wednesday, March 4th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.66. As a group, sell-side analysts forecast that Cellectar Biosciences will post -1.59 EPS for the current year.

Hedge Funds Weigh In On Cellectar Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of CLRB. XTX Topco Ltd acquired a new stake in shares of Cellectar Biosciences during the 4th quarter worth approximately $36,000. DRW Securities LLC grew its position in Cellectar Biosciences by 114.2% in the fourth quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 24,089 shares during the period. Geode Capital Management LLC grew its position in Cellectar Biosciences by 15.0% in the fourth quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock worth $84,000 after acquiring an additional 3,744 shares during the period. Sequoia Financial Advisors LLC increased its stake in Cellectar Biosciences by 135.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 25,350 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 14,567 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in Cellectar Biosciences during the third quarter worth $104,000. 16.41% of the stock is currently owned by institutional investors and hedge funds.

Cellectar Biosciences Company Profile

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.