Cellectar Biosciences, Inc. (NASDAQ:CLRB) Short Interest Down 24.0% in March

Cellectar Biosciences, Inc. (NASDAQ:CLRB) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 2,220,000 shares, a drop of 24.0% from the March 15th total of 2,920,000 shares. Approximately 4.9% of the company’s stock are short sold. Based on an average trading volume of 1,630,000 shares, the days-to-cover ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Cellectar Biosciences in a research report on Saturday. They issued a “sell” rating for the company.

Institutional Trading of Cellectar Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLRB. Geode Capital Management LLC raised its stake in Cellectar Biosciences by 3.3% in the 3rd 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 during the period. JPMorgan Chase & Co. lifted 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 buying an additional 159,234 shares during the last quarter. Bank of America Corp DE boosted 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 worth $62,000 after buying an additional 41,704 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in Cellectar Biosciences in the 4th quarter valued at about $156,000. 16.41% of the stock is owned by institutional investors.

Cellectar Biosciences Trading Up 5.6 %

Shares of Cellectar Biosciences stock traded up $0.02 on Friday, reaching $0.30. 225,224 shares of the company were exchanged, compared to its average volume of 1,139,461. The company has a market capitalization of $13.78 million, a price-to-earnings ratio of -0.17 and a beta of 0.67. Cellectar Biosciences has a one year low of $0.22 and a one year high of $3.51. The company has a 50-day moving average of $0.31 and a 200 day moving average of $0.83.

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.