Clene (NASDAQ:CLNN) Receives “Buy” Rating from HC Wainwright

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $31.00 price objective on the stock.

Separately, D. Boral Capital reiterated a “buy” rating and issued a $23.00 target price on shares of Clene in a research note on Monday, March 24th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $55.25.

Clene Stock Performance

NASDAQ:CLNN opened at $2.99 on Tuesday. Clene has a fifty-two week low of $2.57 and a fifty-two week high of $9.20. The firm has a market capitalization of $25.66 million, a PE ratio of -0.57 and a beta of 0.46. The stock’s fifty day moving average is $4.20 and its 200 day moving average is $4.72.

Clene (NASDAQ:CLNN) last announced its earnings results on Monday, March 24th. The company reported ($1.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.21) by ($0.46). Clene had a negative net margin of 8,556.77% and a negative return on equity of 1,106.30%. The business had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.13 million. Equities analysts forecast that Clene will post -5.19 EPS for the current year.

Institutional Investors Weigh In On Clene

Institutional investors and hedge funds have recently bought and sold shares of the company. Parsons Capital Management Inc. RI bought a new stake in shares of Clene in the fourth quarter valued at about $194,000. Geode Capital Management LLC increased its position in Clene by 52.9% during the 4th quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock valued at $346,000 after purchasing an additional 22,539 shares during the period. Renaissance Technologies LLC bought a new position in Clene in the fourth quarter worth approximately $96,000. SBI Securities Co. Ltd. purchased a new stake in shares of Clene during the 4th quarter worth $69,000. Finally, Fullcircle Wealth LLC purchased a new stake in Clene during the fourth quarter valued at approximately $69,000. 23.28% of the stock is owned by institutional investors.

About Clene

Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. Its lead drug candidate is CNM-Au8, which is being studied in various clinical trials, including a completed Phase 2 platform trial to evaluate the safety and efficacy of CNM-Au8 in patients with amyotrophic lateral sclerosis (ALS); completed Phase 2 proof of concept clinical trial in patients with early symptomatic ALS; completed two open-label investigator blinded Phase 2 clinical trials on the brain's energy metabolites; completed Phase 2 clinical trial for the treatment of visual pathway deficits in chronic optic neuropathy for remyelination in stable relapsing Multiple Sclerosis; and a second Phase 2 clinical trial for the treatment of patients with Parkinson's Diseases.