HC Wainwright Reaffirms “Buy” Rating for Clene (NASDAQ:CLNN)

HC Wainwright restated their buy rating on shares of Clene (NASDAQ:CLNN) in a report published on Wednesday, Benzinga reports. The firm currently has a $7.00 price objective on the stock.

Separately, Benchmark restated a buy rating and set a $5.00 price objective on shares of Clene in a research report on Wednesday, March 20th.

Clene Trading Up 5.9 %

Shares of CLNN stock opened at $0.35 on Wednesday. Clene has a 52-week low of $0.25 and a 52-week high of $1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a market capitalization of $44.85 million, a PE ratio of -0.67 and a beta of 0.50. The stock has a fifty day simple moving average of $0.41 and a two-hundred day simple moving average of $0.43.

Clene (NASDAQ:CLNN) last issued its quarterly earnings results on Wednesday, March 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Clene had a negative return on equity of 253.48% and a negative net margin of 7,569.42%. The business had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.14 million. On average, analysts predict that Clene will post -0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CLNN. Cubist Systematic Strategies LLC purchased a new position in shares of Clene during the second quarter valued at about $29,000. Charles Schwab Investment Management Inc. bought a new position in shares of Clene in the 1st quarter valued at about $29,000. Northern Trust Corp lifted its holdings in shares of Clene by 55.3% in the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock valued at $49,000 after acquiring an additional 58,939 shares during the last quarter. UBS Group AG lifted its holdings in shares of Clene by 113.0% in the 2nd quarter. UBS Group AG now owns 22,411 shares of the company’s stock valued at $56,000 after acquiring an additional 11,887 shares during the last quarter. Finally, Csenge Advisory Group bought a new position in shares of Clene in the 3rd quarter valued at about $58,000. Hedge funds and other institutional investors own 23.28% of the company’s stock.

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.