Cellectar Biosciences, Inc. (NASDAQ:CLRB) Short Interest Update

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 2,390,000 shares, a growth of 53.2% from the April 30th total of 1,560,000 shares. Currently, 5.3% of the company’s stock are sold short. Based on an average daily volume of 950,800 shares, the short-interest ratio is presently 2.5 days.

Cellectar Biosciences Trading Down 4.9%

Shares of NASDAQ CLRB opened at $0.25 on Monday. The company has a 50 day simple moving average of $0.27 and a two-hundred day simple moving average of $0.44. The stock has a market cap of $11.57 million, a price-to-earnings ratio of -0.15 and a beta of 0.48. Cellectar Biosciences has a 12 month low of $0.22 and a 12 month high of $3.42.

Cellectar Biosciences (NASDAQ:CLRB) last posted its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.04. Analysts forecast that Cellectar Biosciences will post -1.59 EPS for the current year.

Hedge Funds Weigh In On Cellectar Biosciences

Institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd grew its holdings in Cellectar Biosciences by 122.6% during the first quarter. XTX Topco Ltd now owns 104,323 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 57,447 shares during the period. Simplex Trading LLC boosted its position in Cellectar Biosciences by 331.3% in the 1st quarter. Simplex Trading LLC now owns 173,129 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 132,986 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in Cellectar Biosciences in the 1st quarter worth approximately $55,000. JPMorgan Chase & Co. grew its stake in shares of 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 purchasing an additional 159,234 shares during the period. Finally, Bank of America Corp DE increased its holdings 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 valued at $62,000 after purchasing an additional 41,704 shares in the last quarter. Institutional investors and hedge funds own 16.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CLRB. Maxim Group reissued a “hold” rating on shares of Cellectar Biosciences in a research note on Wednesday, May 14th. Wall Street Zen initiated coverage on shares of Cellectar Biosciences in a research note on Wednesday, May 21st. They set a “sell” rating on the stock.

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.