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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 2,920,000 shares, a growth of 48.2% from the February 28th total of 1,970,000 shares. Based on an average daily trading volume, of 1,950,000 shares, the days-to-cover ratio is presently 1.5 days. Approximately 6.4% of the shares of the company are short sold.

Cellectar Biosciences Stock Performance

Shares of NASDAQ CLRB traded down $0.01 during mid-day trading on Monday, reaching $0.32. The company had a trading volume of 598,125 shares, compared to its average volume of 1,151,961. Cellectar Biosciences has a twelve month low of $0.22 and a twelve month high of $4.15. The stock’s 50 day moving average is $0.30 and its 200-day moving average is $1.03. The stock has a market capitalization of $14.88 million, a PE ratio of -0.19 and a beta of 0.96.

Institutional Investors Weigh In On Cellectar Biosciences

Several large investors have recently made changes to their positions in CLRB. JPMorgan Chase & Co. lifted its position in shares of Cellectar Biosciences by 687.3% in the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 159,234 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Cellectar Biosciences by 25.3% in the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 41,704 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Cellectar Biosciences during the 4th quarter worth about $156,000. Finally, Geode Capital Management LLC raised its holdings in Cellectar Biosciences by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after acquiring an additional 11,266 shares in the last quarter. Institutional investors own 16.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CLRB. LADENBURG THALM/SH SH started coverage on Cellectar Biosciences in a research note on Thursday, December 5th. They issued a “buy” rating and a $13.00 price target for the company. StockNews.com assumed coverage on Cellectar Biosciences in a report on Wednesday, March 26th. They set a “sell” rating for the company. Finally, Oppenheimer reaffirmed 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.