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

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

Cellectar Biosciences Stock Up 2.1 %

Shares of Cellectar Biosciences stock opened at $0.34 on Tuesday. The stock has a market capitalization of $15.85 million, a P/E ratio of -0.20 and a beta of 0.96. The company has a 50-day simple moving average of $0.29 and a 200 day simple moving average of $1.14. Cellectar Biosciences has a 12-month low of $0.22 and a 12-month high of $4.17.

Institutional Investors Weigh In On Cellectar Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position 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. Oppenheimer & Co. Inc. acquired a new stake in Cellectar Biosciences in the 3rd quarter valued at about $27,000. Bank of America Corp DE increased its position 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 valued at $62,000 after acquiring an additional 41,704 shares in the last quarter. JPMorgan Chase & Co. increased its position in Cellectar Biosciences by 687.3% in 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. Finally, Squarepoint Ops LLC acquired a new stake in Cellectar Biosciences in the 4th quarter valued at about $156,000. Institutional investors and hedge funds own 16.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CLRB shares. Oppenheimer reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th. StockNews.com started coverage on shares of Cellectar Biosciences in a report on Tuesday. They set a “sell” rating for the company. Finally, LADENBURG THALM/SH SH started coverage on shares of Cellectar Biosciences in a report on Thursday, December 5th. They set a “buy” rating and a $13.00 price objective for the company.

About Cellectar Biosciences

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.