Clene Inc. (NASDAQ:CLNN – Get Free Report) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 149,400 shares, an increase of 8.7% from the August 31st total of 137,400 shares. Currently, 3.9% of the company’s shares are short sold. Based on an average trading volume of 125,700 shares, the short-interest ratio is presently 1.2 days.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $94.00 price target on shares of Clene in a research note on Tuesday, August 6th. HC Wainwright reissued a “buy” rating and set a $31.00 price objective on shares of Clene in a research report on Monday, September 16th. Finally, EF Hutton Acquisition Co. I upgraded shares of Clene to a “strong-buy” rating in a report on Tuesday, September 10th.
Read Our Latest Stock Analysis on Clene
Clene Stock Performance
Clene (NASDAQ:CLNN – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.60) by $0.54. Clene had a negative return on equity of 315.97% and a negative net margin of 6,890.50%. The company had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.10 million. Equities analysts predict 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 raised its position in Clene Inc. (NASDAQ:CLNN – Free Report) by 131.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,600 shares of the company’s stock after acquiring an additional 153,000 shares during the quarter. Csenge Advisory Group owned 0.21% of Clene worth $96,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.
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