Cellectar Biosciences, Inc. (NASDAQ:CLRB) Sees Large Growth in Short Interest
by Doug Wharley · The Cerbat GemCellectar Biosciences, Inc. (NASDAQ:CLRB – Get Free Report) saw a large growth in short interest in March. As of March 31st, there was short interest totaling 61,202 shares, a growth of 33.4% from the March 15th total of 45,874 shares. Based on an average daily trading volume, of 40,240 shares, the days-to-cover ratio is currently 1.5 days. Approximately 1.5% of the shares of the company are short sold.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cellectar Biosciences in a report on Wednesday, January 21st. Maxim Group upgraded shares of Cellectar Biosciences from a “hold” rating to a “buy” rating in a research report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.
Get Our Latest Stock Report on Cellectar Biosciences
Cellectar Biosciences Trading Up 3.1%
CLRB stock traded up $0.09 during trading on Wednesday, reaching $3.04. The stock had a trading volume of 25,967 shares, compared to its average volume of 62,474. The firm has a market cap of $12.89 million, a PE ratio of -0.32 and a beta of 0.41. The stock’s 50 day moving average is $3.01 and its two-hundred day moving average is $3.43. Cellectar Biosciences has a 52 week low of $2.43 and a 52 week high of $20.60.
Cellectar Biosciences (NASDAQ:CLRB – Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The biopharmaceutical company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($1.19) by $0.66. On average, research analysts anticipate that Cellectar Biosciences will post -1.59 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in shares of Cellectar Biosciences by 15.0% during the 4th quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock worth $84,000 after acquiring an additional 3,744 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Cellectar Biosciences in the 3rd quarter worth $60,000. XTX Topco Ltd bought a new position in Cellectar Biosciences in the 4th quarter worth $36,000. Dimensional Fund Advisors LP purchased a new position in Cellectar Biosciences during the third quarter valued at $73,000. Finally, Citadel Advisors LLC bought a new stake in Cellectar Biosciences during the third quarter valued at about $104,000. 16.41% of the stock is currently owned by institutional investors.
Cellectar Biosciences Company Profile
Cellectar Biosciences, Inc is a clinical‐stage biopharmaceutical company focused on the development of targeted cancer therapies and imaging agents. The company’s proprietary phospholipid drug conjugate (PDC) technology platform is designed to selectively deliver therapeutic and diagnostic payloads to malignant cells while sparing healthy tissue. Through its PDC approach, Cellectar aims to improve the efficacy and safety profile of traditional treatments like chemotherapy and radiotherapy.
Its lead therapeutic candidate, CLR 131, is a radioisotope‐labeled PDC being evaluated in Phase II clinical trials for relapsed or refractory B‐cell malignancies, including multiple myeloma and non‐Hodgkin lymphoma.