Cellectar Biosciences Inc (NASDAQ:CLRB) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 140,500 shares, a drop of 48.3% from the August 30th total of 271,700 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily volume of 96,800 shares, the short-interest ratio is presently 1.5 days.
Shares of NASDAQ:CLRB traded down $0.06 during trading on Friday, reaching $1.60. The stock had a trading volume of 73,493 shares, compared to its average volume of 148,602. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.80 and a quick ratio of 6.80. The stock has a market capitalization of $16.63 million, a PE ratio of -0.34 and a beta of 1.31. The business’s 50-day moving average price is $2.12 and its 200 day moving average price is $2.20. Cellectar Biosciences has a 52 week low of $1.22 and a 52 week high of $3.75.
Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings results on Monday, August 12th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.24. Analysts forecast that Cellectar Biosciences will post -1.81 EPS for the current year.
Institutional investors have recently modified their holdings of the stock. CVI Holdings LLC acquired a new stake in shares of Cellectar Biosciences in the second quarter valued at approximately $231,000. Tang Capital Management LLC acquired a new stake in shares of Cellectar Biosciences in the second quarter valued at approximately $1,482,000. Finally, Boxer Capital LLC acquired a new stake in shares of Cellectar Biosciences in the second quarter valued at approximately $2,006,000. 21.30% of the stock is owned by institutional investors and hedge funds.
CLRB has been the subject of a number of analyst reports. ValuEngine upgraded shares of Cellectar Biosciences from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. HC Wainwright set a $3.00 target price on shares of Cellectar Biosciences and gave the company a “buy” rating in a research note on Friday, August 16th. Brookline Capital Management started coverage on shares of Cellectar Biosciences in a research note on Monday, July 29th. They issued a “buy” rating and a $6.00 target price for the company. Zacks Investment Research cut shares of Cellectar Biosciences from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th. Finally, Roth Capital started coverage on shares of Cellectar Biosciences in a research note on Tuesday, October 1st. They issued a “buy” rating and a $11.00 target price for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $5.56.
About Cellectar Biosciences
Cellectar Biosciences, Inc, a clinical stage 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, which is in Phase II clinical study in patients with relapsed or refractory (R/R) multiple myeloma (MM) and a range of B-cell malignancies, as well as in Phase I clinical study for R/R MM.
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