Clene’s (CLNN) Buy Rating Reiterated at D. Boral Capital

D. Boral Capital restated their buy rating on shares of Clene (NASDAQ:CLNN) in a research report released on Tuesday,Benzinga reports. D. Boral Capital currently has a $23.00 price target on the stock.

A number of other brokerages have also recently weighed in on CLNN. Benchmark decreased their price objective on Clene from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Canaccord Genuity Group reduced their target price on Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Finally, HC Wainwright restated a “buy” rating and set a $31.00 price target on shares of Clene in a research note on Thursday, November 14th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Clene presently has an average rating of “Buy” and a consensus price target of $55.25.

Clene Price Performance

Shares of Clene stock opened at $4.42 on Tuesday. The stock has a market cap of $36.80 million, a price-to-earnings ratio of -0.84 and a beta of 0.24. The firm’s 50-day moving average is $4.81 and its two-hundred day moving average is $5.04. Clene has a 1 year low of $3.82 and a 1 year high of $10.40.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Clene by 52.9% in the 4th quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock worth $346,000 after buying an additional 22,539 shares during the period. Parsons Capital Management Inc. RI purchased a new position in Clene during the fourth quarter worth approximately $194,000. Renaissance Technologies LLC purchased a new stake in Clene in the 4th quarter worth $96,000. SBI Securities Co. Ltd. purchased a new position in Clene in the 4th quarter valued at about $69,000. Finally, Fullcircle Wealth LLC purchased a new stake in shares of Clene during the fourth quarter worth approximately $69,000. 23.28% of the stock is currently owned by hedge funds and other 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.