Cellectar Biosciences Inc (NASDAQ:CLRB) price on Thursday, March 28, rose 9.49% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $3.98.
A look at the stock’s price movement, the close in the last trading session was $3.63. The beta value (5-Year monthly) was 0.93. Turning to its 52-week performance, $4.45 and $1.30 were the 52-week high and 52-week low respectively. Overall, CLRB moved 1.02% over the past month.
Cellectar Biosciences Inc’s market cap currently stands at around $48.91 million, with investors looking forward to this quarter’s earnings report slated for May 02, 2024 – May 06, 2024. Analysts project the company’s earnings per share (EPS) to be -$1, which has seen fiscal year 2022 EPS growth forecast to increase to -$3.91 and about -$2.83 for fiscal year 2023. Per the data, EPS growth is expected to be 9.10% for 2024 and 27.60% for the next financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 3 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that CLRB is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
CLRB’s current price about 4.17% and 8.07% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 55.96, while 7-day volatility ratio is 8.00% and 7.06% in the 30-day chart. Further, Cellectar Biosciences Inc (CLRB) has a beta value of 0.92, and an average true range (ATR) of 0.28.
If we refocus on Cellectar Biosciences Inc (NASDAQ:CLRB), historical trading data shows that trading volumes averaged 1.33 million over the past 10 days and 1.84 million over the past 3 months. The company’s latest data on shares outstanding shows there are 20.74 million shares.
The 9.42% of Cellectar Biosciences Inc’s shares are in the hands of company insiders while institutional holders own 79.73% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 2.01 million on Feb 29, 2024, giving us a short ratio of 1.84. The data shows that as of Feb 29, 2024 short interest in Cellectar Biosciences Inc (CLRB) stood at 16.34% of shares outstanding, with shares short rising to 1.89 million registered in Jan 31, 2024. Current price change has pushed the stock 43.68% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CLRB stock continues to rise going into the next quarter.