The trading price of Cellectar Biosciences Inc (NASDAQ:CLRB) closed higher on Tuesday, April 02, closing at $3.99, 1.79% higher than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $4.45 and a 52-week low of $1.30. Over the past month, the stock has lost -5.00% in value.
Cellectar Biosciences Inc, whose market valuation is $49.04 million at the time of this writing, is expected to release its quarterly earnings report May 02, 2024 – May 06, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$1 per share this quarter, however they have predicted annual earnings per share of -$3.91 for 2022 and -$2.83 for 2023. It means analysts are expecting annual earnings per share growth of 9.10% this year and 27.60% next year.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Cellectar Biosciences Inc 3 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest CLRB has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
A quick review shows that CLRB’s price is currently 4.73% off the SMA20 and 7.78% off the SMA50. The RSI metric on the 14-day chart is currently showing 55.94, and weekly volatility stands at 7.45%. When measured over the past 30 days, the indicator reaches 7.17%. Cellectar Biosciences Inc (NASDAQ:CLRB)’s beta value is currently sitting at 0.94, while the Average True Range indicator is currently displaying 0.28.
To see how Cellectar Biosciences Inc stock has been performing in comparison to its peers in the industry, here are the numbers: CLRB stock’s performance was 1.79% in the latest trading, and 189.15% in the past year.
An evaluation of the daily trading volume of Cellectar Biosciences Inc (NASDAQ:CLRB) indicates that the 3-month average is 1.87 million. However, this figure has increased over the past 10 days to an average of 1.3 million.
Currently, records show that 20.74 million of the company’s shares remain outstanding. The insiders hold 9.42% of outstanding shares, whereas institutions hold 79.73%. The stats also highlight that short interest as of Feb 29, 2024, stood at 2.01 million shares, resulting in a short ratio of 1.84 at that time. From this, we can conclude that short interest is 16.34% of the company’s total outstanding shares. It is noteworthy that short shares in February were up slightly from the previous month’s figure, which was 1.89 million. However, since the stock’s price has seen 44.04% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
