Cellectar Biosciences, Inc. (NASDAQ:CLRB) Sees Large Increase in Short Interest

by · The Cerbat Gem

Cellectar Biosciences, Inc. (NASDAQ:CLRB – Get Free Report) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 2,790,000 shares, an increase of 114.6% from the November 30th total of 1,300,000 shares. Currently, 7.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,560,000 shares, the short-interest ratio is currently 1.8 days.

Institutional Trading of Cellectar Biosciences

A number of large investors have recently modified their holdings of CLRB. Rosalind Advisors Inc. raised its stake in Cellectar Biosciences by 35.7% in the third quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock valued at $7,857,000 after purchasing an additional 965,934 shares in the last quarter. AIGH Capital Management LLC increased its holdings in shares of Cellectar Biosciences by 8.2% in the 2nd quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock worth $7,590,000 after buying an additional 231,270 shares during the last quarter. XTX Topco Ltd raised its position in shares of Cellectar Biosciences by 432.4% during the 2nd quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after buying an additional 51,413 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Cellectar Biosciences during the 3rd quarter worth $51,000. Finally, Oppenheimer & Co. Inc. bought a new position in Cellectar Biosciences in the third quarter valued at $27,000. Institutional investors own 16.41% of the company’s stock.

Cellectar Biosciences Trading Up 1.1 %

NASDAQ CLRB traded up $0.00 during trading hours on Friday, hitting $0.31. The company’s stock had a trading volume of 2,462,911 shares, compared to its average volume of 1,189,472. The company has a market capitalization of $12.80 million, a PE ratio of -0.18 and a beta of 0.89. The company’s 50-day simple moving average is $1.44 and its two-hundred day simple moving average is $2.00. Cellectar Biosciences has a 52 week low of $0.22 and a 52 week high of $4.45.

Cellectar Biosciences (NASDAQ:CLRB – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. Research analysts anticipate that Cellectar Biosciences will post -1.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Cellectar Biosciences in a research report on Wednesday, December 11th. StockNews.com began coverage on Cellectar Biosciences in a report on Friday, December 20th. They set a “sell” rating on the stock. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Cellectar Biosciences in a report on Thursday, December 5th. They set a “buy” rating and a $13.00 target price on the stock.

Check Out Our Latest Analysis on Cellectar Biosciences

About Cellectar Biosciences

(Get Free Report)

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.

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