Cellectar Biosciences, Inc. (NASDAQ:CLRB) Short Interest Up 40.1% in October

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 155,600 shares, an increase of 40.1% from the September 30th total of 111,100 shares. Based on an average daily trading volume, of 118,300 shares, the short-interest ratio is currently 1.3 days. Approximately 5.3% of the company’s stock are sold short. Approximately 5.3% of the company’s stock are sold short. Based on an average daily trading volume, of 118,300 shares, the short-interest ratio is currently 1.3 days.

Institutional Trading of Cellectar Biosciences

Several institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC bought a new stake in shares of Cellectar Biosciences in the 3rd quarter worth $60,000. Riverview Capital Advisers LLC bought a new stake in shares of Cellectar Biosciences in the 2nd quarter worth $75,000. Simplex Trading LLC grew its position in Cellectar Biosciences by 331.3% during the first quarter. Simplex Trading LLC now owns 173,129 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 132,986 shares during the period. Baader Bank Aktiengesellschaft bought a new position in Cellectar Biosciences during the first quarter valued at about $55,000. Finally, XTX Topco Ltd grew its position in Cellectar Biosciences by 122.6% during the first quarter. XTX Topco Ltd now owns 104,323 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 57,447 shares during the period. Institutional investors own 16.41% of the company’s stock.

Cellectar Biosciences Price Performance

NASDAQ CLRB opened at $3.35 on Wednesday. Cellectar Biosciences has a 1 year low of $3.17 and a 1 year high of $66.00. The firm has a market cap of $10.69 million, a price-to-earnings ratio of -0.17 and a beta of 0.59. The company has a fifty day moving average price of $4.80 and a 200-day moving average price of $6.27.

Cellectar Biosciences (NASDAQ:CLRB) last posted its earnings results on Thursday, August 14th. The biopharmaceutical company reported ($3.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.60) by $0.21. On average, research analysts anticipate that Cellectar Biosciences will post -1.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on CLRB. Weiss Ratings restated a “sell (e+)” rating on shares of Cellectar Biosciences in a report on Wednesday, October 8th. Roth Capital restated a “buy” rating on shares of Cellectar Biosciences in a report on Thursday, August 14th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $375.00.

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.