Short Interest in Cellectar Biosciences, Inc. (NASDAQ:CLRB) Declines By 25.1%

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 2,360,000 shares, a decrease of 25.1% from the January 15th total of 3,150,000 shares. Based on an average daily trading volume, of 2,610,000 shares, the days-to-cover ratio is presently 0.9 days. Currently, 5.3% of the company’s stock are sold short.

Cellectar Biosciences Price Performance

Shares of CLRB stock opened at $0.28 on Friday. Cellectar Biosciences has a 12-month low of $0.22 and a 12-month high of $4.45. The firm has a market capitalization of $12.95 million, a price-to-earnings ratio of -0.16 and a beta of 1.05. The business has a 50 day simple moving average of $0.36 and a 200 day simple moving average of $1.43.

Hedge Funds Weigh In On Cellectar Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLRB. Rosalind Advisors Inc. grew its holdings in Cellectar Biosciences by 35.7% in the 3rd quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock worth $7,857,000 after buying an additional 965,934 shares in the last quarter. JPMorgan Chase & Co. boosted its stake 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 purchasing an additional 159,234 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Cellectar Biosciences during the 3rd quarter valued at $51,000. Oppenheimer & Co. Inc. bought a new position in Cellectar Biosciences during the 3rd quarter valued at $27,000. Finally, Geode Capital Management LLC boosted its stake in Cellectar Biosciences by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after purchasing an additional 11,266 shares in the last quarter. 16.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on CLRB. StockNews.com began coverage on Cellectar Biosciences in a report on Friday. They set a “sell” rating for the company. LADENBURG THALM/SH SH began coverage on Cellectar Biosciences in a report on Thursday, December 5th. They set a “buy” rating and a $13.00 target price for the company. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a report 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.