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

Cellectar Biosciences, Inc. (NASDAQ:CLRBGet Rating) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 214,700 shares, an increase of 70.1% from the March 15th total of 126,200 shares. Based on an average daily volume of 203,700 shares, the short-interest ratio is presently 1.1 days.

CLRB opened at $0.69 on Friday. The company has a fifty day moving average of $0.57 and a 200 day moving average of $0.69. Cellectar Biosciences has a fifty-two week low of $0.44 and a fifty-two week high of $1.84.

Cellectar Biosciences (NASDAQ:CLRBGet Rating) last announced its quarterly earnings data on Monday, March 21st. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.10). As a group, research analysts predict that Cellectar Biosciences will post -0.38 EPS for the current year.

Several research analysts have weighed in on CLRB shares. StockNews.com started coverage on shares of Cellectar Biosciences in a research report on Monday, April 11th. They issued a “sell” rating on the stock. Zacks Investment Research cut shares of Cellectar Biosciences from a “buy” rating to a “hold” rating in a research note on Monday, February 14th.

Institutional investors and hedge funds have recently made changes to their positions in the stock. AIGH Capital Management LLC purchased a new position in Cellectar Biosciences during the 4th quarter valued at about $596,000. Morgan Stanley increased its position in Cellectar Biosciences by 346.3% during the 3rd quarter. Morgan Stanley now owns 578,361 shares of the biopharmaceutical company’s stock valued at $535,000 after purchasing an additional 448,758 shares during the period. Citadel Advisors LLC purchased a new position in Cellectar Biosciences during the 4th quarter valued at about $109,000. Franklin Resources Inc. purchased a new position in Cellectar Biosciences during the 3rd quarter valued at about $132,000. Finally, Bank of New York Mellon Corp increased its position in Cellectar Biosciences by 325.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 121,738 shares of the biopharmaceutical company’s stock valued at $113,000 after purchasing an additional 93,129 shares during the period. Institutional investors own 21.92% of the company’s stock.

About Cellectar Biosciences (Get Rating)

Cellectar BioSciences, Inc engages in the development of phospholipid drug conjugates (PDCs) for the treatment and imaging of cancer. Its portfolio includes CLR 131, which seeks to treat relapse or refractory multiple myeloma, CLR 125, which intends to treat micro metastatic disease, CLR 124 which could detects tumors and metastases in a broad range of cancers and CLR 1502, a cancer-targeting near-infrared-fluorophore optical imaging PDC for intraoperative tumor and tumor margin illumination.

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