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 trading volume of 1,950,000 shares, the short-interest ratio is presently 1.5 days. Approximately 6.4% of the company’s shares are short sold.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new position in shares of Cellectar Biosciences during the fourth quarter worth $156,000. Bank of America Corp DE lifted its holdings in shares of 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 purchasing an additional 41,704 shares during 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 during the period. Finally, Geode Capital Management LLC lifted its position 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 worth $754,000 after acquiring an additional 11,266 shares during the period. 16.41% of the stock is currently owned by institutional investors and hedge funds.

Cellectar Biosciences Stock Down 5.8 %

Shares of Cellectar Biosciences stock opened at $0.32 on Tuesday. The business has a 50-day moving average price of $0.30 and a 200 day moving average price of $1.02. Cellectar Biosciences has a twelve month low of $0.22 and a twelve month high of $4.15. The firm has a market cap of $14.53 million, a PE ratio of -0.18 and a beta of 0.96.

Wall Street Analysts Forecast Growth

CLRB has been the topic of several research reports. StockNews.com started coverage on Cellectar Biosciences in a research note on Wednesday, March 26th. They set a “sell” rating on the stock. LADENBURG THALM/SH SH initiated 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. Finally, Oppenheimer restated 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.