Cellectar Biosciences, Inc. (NASDAQ:CLRB) Short Interest Up 9.2% in June

Cellectar Biosciences, Inc. (NASDAQ:CLRB) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 2,370,000 shares, a growth of 9.2% from the May 31st total of 2,170,000 shares. Based on an average trading volume of 684,700 shares, the short-interest ratio is currently 3.5 days. Currently, 6.8% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CLRB. Vanguard Group Inc. lifted its holdings in Cellectar Biosciences by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 175,884 shares of the biopharmaceutical company’s stock worth $464,000 after purchasing an additional 3,911 shares during the last quarter. Worth Venture Partners LLC raised its position in shares of Cellectar Biosciences by 148.6% in the fourth quarter. Worth Venture Partners LLC now owns 693,909 shares of the biopharmaceutical company’s stock valued at $1,922,000 after buying an additional 414,786 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of Cellectar Biosciences in the fourth quarter valued at approximately $3,817,000. Finally, AIGH Capital Management LLC increased its stake in Cellectar Biosciences by 182.7% during the 4th quarter. AIGH Capital Management LLC now owns 1,915,220 shares of the biopharmaceutical company’s stock worth $5,305,000 after acquiring an additional 1,237,709 shares during the period. Institutional investors and hedge funds own 16.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CLRB shares. StockNews.com raised shares of Cellectar Biosciences to a “sell” rating in a research note on Thursday, March 28th. Roth Mkm boosted their price objective on shares of Cellectar Biosciences from $20.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $12.00 target price (up from $11.00) on shares of Cellectar Biosciences in a research note on Thursday, March 28th.

Cellectar Biosciences Trading Up 3.8 %

Shares of NASDAQ CLRB opened at $2.47 on Thursday. Cellectar Biosciences has a 12 month low of $1.56 and a 12 month high of $4.45. The stock has a 50 day moving average of $3.04 and a 200-day moving average of $3.32. The company has a market capitalization of $88.55 million, a P/E ratio of -0.80 and a beta of 0.99.

Cellectar Biosciences (NASDAQ:CLRB) last released its quarterly earnings data on Tuesday, May 14th. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.10. Analysts predict that Cellectar Biosciences will post -1.51 EPS for the current fiscal year.

Cellectar Biosciences Company Profile

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.