Cellectar Biosciences, Inc. (NASDAQ:CLRB) Short Interest Up 40.1% in October

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 155,600 shares, an increase of 40.1% from the September 30th total of 111,100 shares. Approximately 5.3% of the company’s shares are sold short. Based on an average daily trading volume, of 118,300 shares, the short-interest ratio is currently 1.3 days. Based on an average daily trading volume, of 118,300 shares, the short-interest ratio is currently 1.3 days. Approximately 5.3% of the company’s shares are sold short.

Cellectar Biosciences Stock Performance

Shares of NASDAQ CLRB traded up $0.05 during trading hours on Tuesday, hitting $3.35. The company’s stock had a trading volume of 125,002 shares, compared to its average volume of 215,653. The stock has a market cap of $10.69 million, a price-to-earnings ratio of -0.17 and a beta of 0.59. Cellectar Biosciences has a 12 month low of $3.17 and a 12 month high of $66.00. The business has a 50-day simple moving average of $4.83 and a 200-day simple moving average of $6.31.

Cellectar Biosciences (NASDAQ:CLRB) last posted its earnings results on Thursday, August 14th. The biopharmaceutical company reported ($3.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.60) by $0.21. On average, equities research analysts forecast that Cellectar Biosciences will post -1.59 EPS for the current year.

Institutional Trading of Cellectar Biosciences

Several large investors have recently modified their holdings of CLRB. XTX Topco Ltd grew its stake in shares of Cellectar Biosciences by 122.6% in the first quarter. XTX Topco Ltd now owns 104,323 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 57,447 shares during the last quarter. Simplex Trading LLC boosted its position in Cellectar Biosciences by 331.3% during the 1st quarter. Simplex Trading LLC now owns 173,129 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 132,986 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new stake in Cellectar Biosciences during the 1st quarter valued at approximately $55,000. Sequoia Financial Advisors LLC bought a new stake in Cellectar Biosciences during the 3rd quarter valued at approximately $60,000. Finally, Bank of America Corp DE boosted its position in Cellectar Biosciences by 25.3% during the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 41,704 shares in the last quarter. 16.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CLRB has been the topic of several analyst reports. Roth Capital reiterated a “buy” rating on shares of Cellectar Biosciences in a report on Thursday, August 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cellectar Biosciences in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $375.00.

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.