Clene (NASDAQ:CLNN) Earns Buy Rating from D. Boral Capital

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reissued by equities research analysts at D. Boral Capital in a research note issued on Monday,Benzinga reports. They presently have a $23.00 target price on the stock.

Separately, HC Wainwright reiterated a “buy” rating and set a $31.00 price objective on shares of Clene in a research note on Wednesday, March 12th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $55.25.

Clene Price Performance

Shares of NASDAQ:CLNN opened at $3.46 on Monday. The business’s 50 day moving average price is $4.52 and its 200-day moving average price is $4.89. Clene has a 1 year low of $3.37 and a 1 year high of $9.20. The firm has a market capitalization of $28.81 million, a price-to-earnings ratio of -0.66 and a beta of 0.27.

Clene (NASDAQ:CLNN) last posted its quarterly earnings data on Monday, March 24th. The company reported ($1.67) earnings per share (EPS) 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%. The company had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.13 million. On average, sell-side analysts expect that Clene will post -5.19 earnings per share for the current year.

Institutional Investors Weigh In On Clene

A number of hedge funds have recently modified their holdings of CLNN. Fullcircle Wealth LLC acquired a new position in Clene during the fourth quarter worth about $69,000. SBI Securities Co. Ltd. acquired a new stake in Clene in the 4th quarter valued at about $69,000. Renaissance Technologies LLC purchased a new position in Clene in the 4th quarter worth approximately $96,000. Geode Capital Management LLC boosted its holdings 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 worth $346,000 after purchasing an additional 22,539 shares during the last quarter. Finally, Parsons Capital Management Inc. RI purchased a new stake in shares of Clene in the fourth quarter valued at approximately $194,000. 23.28% of the stock is currently owned by institutional investors and hedge funds.

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.