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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) saw a large decline in short interest in February. As of February 28th, there was short interest totalling 1,970,000 shares, a decline of 15.8% from the February 13th total of 2,340,000 shares. Currently, 4.4% of the shares of the company are short sold. Based on an average daily volume of 2,670,000 shares, the days-to-cover ratio is presently 0.7 days.

Cellectar Biosciences Price Performance

Shares of CLRB stock traded up $0.00 during midday trading on Wednesday, reaching $0.38. 1,318,637 shares of the company traded hands, compared to its average volume of 1,175,084. The firm’s 50 day simple moving average is $0.29 and its two-hundred day simple moving average is $1.13. The firm has a market cap of $17.60 million, a PE 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

CLRB has been the subject of a number of analyst reports. StockNews.com assumed coverage on Cellectar Biosciences in a research note on Tuesday. They set a “sell” rating for the company. Oppenheimer reiterated a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th. Finally, LADENBURG THALM/SH SH started coverage on shares of Cellectar Biosciences in a research report on Thursday, December 5th. They set a “buy” rating and a $13.00 target price on the stock.

Hedge Funds Weigh In On Cellectar Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC purchased a new position in shares of Cellectar Biosciences in the fourth quarter valued at $156,000. Bank of America Corp DE increased its holdings 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. JPMorgan Chase & Co. increased its holdings in Cellectar Biosciences by 687.3% during the 4th quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 159,234 shares in the last quarter. Geode Capital Management LLC raised its position in Cellectar Biosciences by 3.3% during the third 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 during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Cellectar Biosciences in the third quarter valued at approximately $27,000. 16.41% of the stock is owned by institutional investors and hedge funds.

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.