Clene Inc. (NASDAQ:CLNN) Short Interest Down 24.8% in March

Clene Inc. (NASDAQ:CLNN) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 86,500 shares, a drop of 24.8% from the February 28th total of 115,100 shares. Based on an average daily trading volume, of 55,200 shares, the short-interest ratio is presently 1.6 days. Currently, 1.6% of the company’s stock are sold short.

Institutional Trading of Clene

Institutional investors and hedge funds have recently modified their holdings of the business. Fullcircle Wealth LLC purchased a new position in Clene in the fourth quarter worth about $69,000. SBI Securities Co. Ltd. purchased a new stake in shares of Clene in the fourth quarter worth $69,000. Renaissance Technologies LLC bought a new stake in Clene during the 4th quarter valued at approximately $96,000. Geode Capital Management LLC raised its position in shares of 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 buying an additional 22,539 shares during the last quarter. Finally, Parsons Capital Management Inc. RI purchased a new stake in Clene in the 4th quarter worth $194,000. Institutional investors own 23.28% of the company’s stock.

Clene Stock Down 4.3 %

Shares of NASDAQ CLNN opened at $3.08 on Tuesday. The company has a market cap of $26.45 million, a price-to-earnings ratio of -0.58 and a beta of 0.27. The firm’s fifty day moving average is $4.39 and its 200 day moving average is $4.81. Clene has a 52 week low of $2.95 and a 52 week high of $9.20.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. D. Boral Capital reaffirmed a “buy” rating and set a $23.00 target price on shares of Clene in a research report on Monday, March 24th. HC Wainwright reiterated a “buy” rating and set a $31.00 price target on shares of Clene in a research note on Monday, March 24th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Clene has an average rating of “Buy” and a consensus target price of $55.25.

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.