Short Interest in Cellectar Biosciences, Inc. (NASDAQ:CLRB) Declines By 39.3%

Cellectar Biosciences, Inc. (NASDAQ:CLRB) saw a significant drop in short interest in May. As of May 31st, there was short interest totalling 1,450,000 shares, a drop of 39.3% from the May 15th total of 2,390,000 shares. Approximately 3.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 11,480,000 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Cellectar Biosciences

A number of institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in shares of Cellectar Biosciences by 25.3% during the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 41,704 shares in the last quarter. XTX Topco Ltd raised its position in Cellectar Biosciences by 122.6% in the 1st 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 last quarter. Simplex Trading LLC boosted its holdings in Cellectar Biosciences by 331.3% during the 1st quarter. Simplex Trading LLC now owns 173,129 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 132,986 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Cellectar Biosciences by 687.3% during the 4th quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 159,234 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Cellectar Biosciences in the 1st quarter worth $55,000. Institutional investors own 16.41% of the company’s stock.

Cellectar Biosciences Stock Performance

Shares of CLRB stock traded down $0.03 on Monday, hitting $0.38. The company’s stock had a trading volume of 1,409,292 shares, compared to its average volume of 7,487,542. The company has a market capitalization of $17.51 million, a PE ratio of -0.22 and a beta of 0.52. The stock’s 50 day moving average is $0.29 and its 200-day moving average is $0.36. Cellectar Biosciences has a fifty-two week low of $0.22 and a fifty-two week high of $3.23.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.04. On average, research analysts forecast that Cellectar Biosciences will post -1.59 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wall Street Zen assumed coverage on shares of Cellectar Biosciences in a report on Wednesday, May 21st. They issued a “sell” rating for the company. Maxim Group reaffirmed a “hold” rating on shares of Cellectar Biosciences in a research note on Wednesday, May 14th.

About Cellectar Biosciences

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.