Clene (NASDAQ:CLNN) Given Buy Rating at HC Wainwright

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

Separately, D. Boral Capital restated a “buy” rating and issued a $23.00 price target on shares of Clene in a research note on Monday. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Clene has a consensus rating of “Buy” and an average target price of $55.25.

Clene Trading Down 1.9 %

NASDAQ:CLNN traded down $0.08 during mid-day 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 firm’s fifty day moving average price is $4.57 and its two-hundred day moving average price is $4.92. The stock has a market cap of $33.80 million, a P/E ratio of -0.77 and a beta of 0.27. Clene has a 12-month low of $3.82 and a 12-month high of $9.20.

Clene (NASDAQ:CLNN) last released its quarterly earnings data on Wednesday, March 26th. The company reported ($1.67) earnings per share 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%. Analysts predict that Clene will post -5.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new stake in shares of Clene in the 4th quarter worth $69,000. Fullcircle Wealth LLC bought a new stake in Clene during the fourth quarter valued at about $69,000. Renaissance Technologies LLC purchased a new stake in Clene in the fourth quarter worth about $96,000. Parsons Capital Management Inc. RI bought a new position in shares of Clene in the fourth quarter worth about $194,000. Finally, Geode Capital Management LLC lifted its position in shares of 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 buying an additional 22,539 shares in the last quarter. 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.