HC Wainwright Reiterates Buy Rating for Clene (NASDAQ:CLNN)

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $31.00 target price on the stock.

Separately, D. Boral Capital restated a “buy” rating and set a $23.00 target price on shares of Clene in a research report on Monday. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Clene presently has a consensus rating of “Buy” and an average target price of $55.25.

Clene Stock Down 1.9 %

CLNN stock traded down $0.08 during trading on Monday, reaching $4.06. The company’s stock had a trading volume of 87,267 shares, compared to its average volume of 76,903. The company’s fifty day moving average is $4.57 and its 200-day moving average is $4.92. The company has a market capitalization of $33.80 million, a P/E ratio of -0.77 and a beta of 0.27. Clene has a 1 year low of $3.82 and a 1 year high of $9.20.

Clene (NASDAQ:CLNN) last released its earnings results on Wednesday, March 26th. 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 return on equity of 1,106.30% and a negative net margin of 8,556.77%. Analysts anticipate that Clene will post -5.19 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in Clene by 52.9% during the fourth 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 in the last quarter. Parsons Capital Management Inc. RI purchased a new position in Clene in the fourth quarter worth about $194,000. Renaissance Technologies LLC purchased a new position in Clene in the fourth quarter worth about $96,000. SBI Securities Co. Ltd. bought a new stake in Clene during the fourth quarter worth approximately $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 currently owned by institutional investors.

Clene Company Profile

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.