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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 193,022 shares, an increase of 131.9% from the December 31st total of 83,230 shares. Currently, 4.8% of the company’s shares are sold short. Based on an average daily trading volume, of 201,130 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily trading volume, of 201,130 shares, the days-to-cover ratio is presently 1.0 days. Currently, 4.8% of the company’s shares are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cellectar Biosciences in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Institutional Investors Weigh In On Cellectar Biosciences

A number of institutional investors have recently bought and sold shares of CLRB. Bank of America Corp DE lifted its holdings in Cellectar Biosciences by 25.3% in the 4th 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 in the last quarter. Riverview Capital Advisers LLC bought a new stake in shares of Cellectar Biosciences during the second quarter valued at approximately $75,000. Sequoia Financial Advisors LLC purchased a new position in shares of Cellectar Biosciences in the third quarter worth $60,000. Dimensional Fund Advisors LP bought a new position in shares of Cellectar Biosciences during the third quarter worth $73,000. Finally, Citadel Advisors LLC purchased a new position in Cellectar Biosciences during the third quarter valued at $104,000. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Cellectar Biosciences Stock Down 0.6%

CLRB traded down $0.02 during trading on Friday, hitting $3.22. 37,563 shares of the company’s stock traded hands, compared to its average volume of 124,166. The stock has a market capitalization of $13.65 million, a price-to-earnings ratio of -0.35 and a beta of 0.32. The company’s 50 day simple moving average is $3.35 and its two-hundred day simple moving average is $4.15. Cellectar Biosciences has a 12-month low of $2.45 and a 12-month high of $20.60. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.04.

Cellectar Biosciences (NASDAQ:CLRB) last announced its quarterly earnings results on Thursday, November 13th. The biopharmaceutical company reported ($1.41) EPS for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.50. Analysts predict that Cellectar Biosciences will post -1.59 earnings per share for the current fiscal year.

About Cellectar Biosciences

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.