Cellectar Biosciences, Inc. (NASDAQ:CLRB) Sees Significant Decrease in Short Interest

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 2,220,000 shares, a drop of 24.0% from the March 15th total of 2,920,000 shares. Based on an average trading volume of 1,630,000 shares, the days-to-cover ratio is presently 1.4 days. Currently, 4.9% of the company’s stock are short sold.

Cellectar Biosciences Stock Down 1.3 %

CLRB traded down $0.00 on Monday, reaching $0.30. The company had a trading volume of 625,147 shares, compared to its average volume of 1,137,415. The stock has a 50-day moving average price of $0.31 and a 200-day moving average price of $0.82. The stock has a market capitalization of $13.60 million, a PE ratio of -0.17 and a beta of 0.67. Cellectar Biosciences has a 1 year low of $0.22 and a 1 year high of $3.51.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Cellectar Biosciences in a research report on Saturday. They set a “sell” rating for the company.

Institutional Investors Weigh In On Cellectar Biosciences

Several large investors have recently modified their holdings of CLRB. Squarepoint Ops LLC acquired a new stake in Cellectar Biosciences during the 4th quarter worth $156,000. Geode Capital Management LLC grew its stake in shares of 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 purchasing an additional 11,266 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Cellectar Biosciences by 25.3% in the fourth 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 period. Finally, JPMorgan Chase & Co. raised its stake in shares of Cellectar Biosciences by 687.3% during the fourth quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 159,234 shares during the last quarter. 16.41% of the stock is owned by institutional investors and hedge funds.

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.