Cellectar Biosciences, Inc. (NASDAQ:CLRB) Short Interest Update
by Sarita Garza · The Markets DailyCellectar Biosciences, Inc. (NASDAQ:CLRB – Get Free Report) was the target of a large growth in short interest in January. As of January 15th, there was short interest totaling 193,022 shares, a growth of 131.9% from the December 31st total of 83,230 shares. Based on an average daily volume of 201,130 shares, the days-to-cover ratio is presently 1.0 days. Currently, 4.8% of the shares of the stock are sold short. Currently, 4.8% of the shares of the stock are sold short. Based on an average daily volume of 201,130 shares, the days-to-cover ratio is presently 1.0 days.
Analysts Set New Price Targets
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cellectar Biosciences in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.
Read Our Latest Research Report on Cellectar Biosciences
Institutional Investors Weigh In On Cellectar Biosciences
A number of institutional investors have recently modified their holdings of the stock. Riverview Capital Advisers LLC purchased a new position in Cellectar Biosciences in the second quarter worth about $75,000. Sequoia Financial Advisors LLC purchased a new position in Cellectar Biosciences in the 3rd quarter worth approximately $60,000. Dimensional Fund Advisors LP bought a new position in Cellectar Biosciences in the 3rd quarter valued at approximately $73,000. Citadel Advisors LLC bought a new stake in shares of Cellectar Biosciences in the 3rd quarter worth $104,000. Finally, Bank of America Corp DE boosted its position in shares of Cellectar Biosciences by 25.3% during the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 41,704 shares during the last quarter. 16.41% of the stock is owned by hedge funds and other institutional investors.
Cellectar Biosciences Price Performance
CLRB traded down $0.03 during midday trading on Friday, hitting $3.21. The stock had a trading volume of 34,584 shares, compared to its average volume of 125,390. Cellectar Biosciences has a 1 year low of $2.45 and a 1 year high of $20.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.77 and a current ratio of 2.77. The business has a fifty day moving average of $3.34 and a 200 day moving average of $4.16. The company has a market cap of $13.60 million, a P/E ratio of -0.34 and a beta of 0.32.
Cellectar Biosciences (NASDAQ:CLRB – Get Free Report) last posted its quarterly earnings results on Thursday, November 13th. The biopharmaceutical company reported ($1.41) earnings per share for the quarter, topping the consensus estimate of ($1.91) by $0.50. As a group, equities analysts forecast that Cellectar Biosciences will post -1.59 earnings per share for the current fiscal year.
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.