Cellectar Biosciences, Inc. (NASDAQ:CLRB) Short Interest Down 6.1% in October

Cellectar Biosciences, Inc. (NASDAQ:CLRB - Get Free Report) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 1,840,000 shares, a decline of 6.1% from the October 15th total of 1,960,000 shares. Based on an average daily volume of 245,400 shares, the days-to-cover ratio is currently 7.5 days. Approximately 4.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Oppenheimer reiterated an "outperform" rating and issued a $14.00 target price on shares of Cellectar Biosciences in a research report on Friday, October 11th. StockNews.com upgraded shares of Cellectar Biosciences to a "sell" rating in a research note on Thursday, September 26th.

Hedge Funds Weigh In On Cellectar Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rosalind Advisors Inc. boosted its position in Cellectar Biosciences by 35.7% during the 3rd quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company's stock worth $7,857,000 after acquiring an additional 965,934 shares during the period. AIGH Capital Management LLC increased its position in Cellectar Biosciences by 8.2% in the 2nd quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company's stock worth $7,590,000 after purchasing an additional 231,270 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Cellectar Biosciences by 146.7% during the 1st quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company's stock valued at $4,741,000 after buying an additional 708,191 shares during the last quarter. Geode Capital Management LLC raised its position in Cellectar Biosciences by 3.3% during the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company's stock valued at $754,000 after acquiring an additional 11,266 shares in the last quarter. Finally, XTX Topco Ltd grew its position in Cellectar Biosciences by 432.4% in the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company's stock worth $158,000 after acquiring an additional 51,413 shares in the last quarter. Institutional investors and hedge funds own 16.41% of the company's stock.

Cellectar Biosciences Stock Down 4.8 %

Cellectar Biosciences stock traded down $0.09 during mid-day trading on Monday, hitting $1.77. The company's stock had a trading volume of 1,354,206 shares, compared to its average volume of 889,437. Cellectar Biosciences has a twelve month low of $1.66 and a twelve month high of $4.45. The stock's fifty day moving average price is $2.07 and its two-hundred day moving average price is $2.43. The stock has a market capitalization of $71.80 million, a P/E ratio of -0.66 and a beta of 1.00.

Cellectar Biosciences (NASDAQ:CLRB - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) EPS for the quarter. Equities analysts expect that Cellectar Biosciences will post -1.57 earnings per share for the current year.

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.