Cellectar Biosciences Inc (NASDAQ:CLRB) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 403,300 shares, a decrease of 5.3% from the June 30th total of 425,700 shares. Currently, 8.7% of the shares of the stock are short sold. Based on an average daily volume of 461,000 shares, the days-to-cover ratio is presently 0.9 days.
Several analysts have recently commented on CLRB shares. Zacks Investment Research raised shares of Cellectar Biosciences from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research note on Friday. Brookline Capital Management started coverage on shares of Cellectar Biosciences in a research note on Monday, July 29th. They set a “buy” rating and a $6.00 price target on the stock. HC Wainwright started coverage on shares of Cellectar Biosciences in a research note on Thursday, May 2nd. They set a “buy” rating and a $4.00 price target on the stock. Finally, ValuEngine raised shares of Cellectar Biosciences from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.
Hedge funds have recently made changes to their positions in the business. CVI Holdings LLC bought a new position in Cellectar Biosciences in the second quarter valued at approximately $231,000. Tang Capital Management LLC bought a new position in Cellectar Biosciences in the second quarter valued at approximately $1,482,000. Finally, Boxer Capital LLC bought a new position in Cellectar Biosciences in the second quarter valued at approximately $2,006,000. 2.64% of the stock is currently owned by hedge funds and other institutional investors.
Cellectar Biosciences (NASDAQ:CLRB) last released its quarterly earnings results on Monday, August 12th. The biopharmaceutical company reported ($0.46) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.70) by $0.24. As a group, analysts anticipate that Cellectar Biosciences will post -1.95 EPS for the current year.
Cellectar Biosciences Company Profile
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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