Clene (NASDAQ:CLNN) Rating Reiterated by HC Wainwright

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They presently have a $7.00 price objective on the stock.

Separately, Benchmark reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Clene in a research note on Wednesday, March 20th.

Clene Stock Down 2.9 %

Shares of NASDAQ CLNN opened at $0.33 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.53 and a current ratio of 1.53. Clene has a 52 week low of $0.25 and a 52 week high of $1.09. The stock has a market capitalization of $42.37 million, a P/E ratio of -0.63 and a beta of 0.50. The stock’s fifty day moving average is $0.41 and its 200 day moving average is $0.43.

Clene (NASDAQ:CLNN) last released its quarterly earnings data on Wednesday, March 13th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.14 million. Clene had a negative return on equity of 253.48% and a negative net margin of 7,569.42%. Sell-side analysts forecast that Clene will post -0.33 earnings per share for the current fiscal year.

Institutional Trading of Clene

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. bought a new position in shares of Clene during the first quarter worth about $29,000. Cubist Systematic Strategies LLC bought a new position in shares of Clene during the second quarter worth about $29,000. Northern Trust Corp increased its holdings in Clene by 55.3% in the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $49,000 after purchasing an additional 58,939 shares in the last quarter. UBS Group AG increased its holdings in Clene by 113.0% in the second quarter. UBS Group AG now owns 22,411 shares of the company’s stock worth $56,000 after purchasing an additional 11,887 shares in the last quarter. Finally, Csenge Advisory Group bought a new stake in Clene in the third quarter worth approximately $58,000. 23.28% of the stock is owned by institutional investors and hedge funds.

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.