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

HC Wainwright reiterated their buy rating on shares of Clene (NASDAQ:CLNN) in a research note published on Monday morning, Benzinga reports. They currently have a $31.00 target price on the stock.

A number of other brokerages have also recently issued reports on CLNN. Canaccord Genuity Group reissued a buy rating and issued a $94.00 target price on shares of Clene in a research report on Tuesday, August 6th. EF Hutton Acquisition Co. I raised Clene to a strong-buy rating in a research note on Tuesday, September 10th. Finally, Benchmark reaffirmed a buy rating and set a $100.00 price objective on shares of Clene in a research note on Thursday, May 23rd.

Clene Trading Down 5.1 %

CLNN opened at $5.02 on Monday. Clene has a 12 month low of $3.82 and a 12 month high of $13.20. The stock has a market capitalization of $32.48 million, a price-to-earnings ratio of -0.55 and a beta of 0.49. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.99 and a quick ratio of 0.99. The business has a fifty day moving average price of $5.19 and a 200 day moving average price of $6.76.

Clene (NASDAQ:CLNN) last released its earnings results on Wednesday, August 7th. The company reported ($1.06) EPS for the quarter, topping the consensus estimate of ($1.60) by $0.54. The firm had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.10 million. Clene had a negative return on equity of 315.97% and a negative net margin of 6,890.50%. Sell-side analysts expect that Clene will post -5.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Clene stock. Csenge Advisory Group increased its position in Clene Inc. (NASDAQ:CLNN) by 131.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 269,600 shares of the company’s stock after purchasing an additional 153,000 shares during the period. Csenge Advisory Group owned 0.21% of Clene worth $96,000 at the end of the most recent reporting period. 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.