Cellectar Biosciences, Inc. (NASDAQ:CLRB – Get Free Report) was the target of a large decline in short interest in June. As of June 15th, there was short interest totaling 57,356 shares, a decline of 77.8% from the May 31st total of 258,202 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average daily trading volume, of 153,060 shares, the days-to-cover ratio is presently 0.4 days.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of CLRB. Bank of America Corp DE boosted its stake in 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 worth $62,000 after buying an additional 41,704 shares in the last quarter. DRW Securities LLC raised its stake in shares of Cellectar Biosciences by 114.2% in the 4th quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 24,089 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Cellectar Biosciences during the 3rd quarter worth about $104,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Cellectar Biosciences by 135.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 25,350 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 14,567 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Cellectar Biosciences during the 3rd quarter valued at about $73,000. 16.41% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on CLRB shares. Wall Street Zen raised shares of Cellectar Biosciences to a “hold” rating in a research report on Saturday, June 20th. LADENBURG THALM/SH SH started coverage on shares of Cellectar Biosciences in a report on Friday, May 15th. They set a “buy” rating on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Cellectar Biosciences in a research note on Tuesday, May 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cellectar Biosciences in a report on Monday, April 20th. Finally, Maxim Group raised shares of Cellectar Biosciences from a “hold” rating to a “buy” rating in a research report on Tuesday, March 10th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.
Cellectar Biosciences Trading Up 2.2%
Shares of CLRB stock opened at $2.52 on Friday. The firm has a market capitalization of $20.17 million, a P/E ratio of -0.38 and a beta of 0.52. Cellectar Biosciences has a 1 year low of $2.20 and a 1 year high of $8.30. The firm’s fifty day simple moving average is $2.82 and its 200 day simple moving average is $3.03.
Cellectar Biosciences (NASDAQ:CLRB – Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.88) by $0.55. Equities research analysts anticipate that Cellectar Biosciences will post -2.34 EPS 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.
Featured Stories
- Five stocks we like better than Cellectar Biosciences
- 3 Overlooked Tech ETFs That Are Quietly Killing It This Year
- 3 ETFs Pairing Market-Beating Returns With High Dividend Yields
- MarketBeat Week in Review – 06/22 – 06/26
- Rocket Lab’s NASA Win Tests Key Support After Sharp Pullback
Receive News & Ratings for Cellectar Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cellectar Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.
