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

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

Cellectar Biosciences Stock Down 1.3 %

NASDAQ:CLRB traded down $0.00 on Monday, reaching $0.30. The company’s stock had a trading volume of 625,147 shares, compared to its average volume of 1,137,415. The firm has a market cap of $13.60 million, a price-to-earnings ratio of -0.17 and a beta of 0.67. Cellectar Biosciences has a 12-month low of $0.22 and a 12-month high of $3.51. The stock has a 50 day moving average price of $0.31 and a 200 day moving average price of $0.82.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Squarepoint Ops LLC purchased a new stake in Cellectar Biosciences in the fourth quarter valued at approximately $156,000. JPMorgan Chase & Co. lifted its stake in 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 acquiring an additional 159,234 shares in the last quarter. Bank of America Corp DE boosted its holdings in 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 acquiring an additional 41,704 shares during the period. Finally, Geode Capital Management LLC increased its stake 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 worth $754,000 after purchasing an additional 11,266 shares during the period. Institutional investors and hedge funds own 16.41% of the company’s 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.