Renaissance Technologies LLC Buys Shares of 18,040 Clene Inc. (NASDAQ:CLNN)

Renaissance Technologies LLC purchased a new stake in Clene Inc. (NASDAQ:CLNN) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 18,040 shares of the company’s stock, valued at approximately $96,000.

Several other hedge funds also recently modified their holdings of the company. Parsons Capital Management Inc. RI bought a new position in Clene in the fourth quarter valued at about $194,000. Geode Capital Management LLC raised 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 valued at $346,000 after buying an additional 22,539 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Clene during the 4th quarter worth approximately $69,000. Institutional investors and hedge funds own 23.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $31.00 price target on shares of Clene in a research report on Tuesday, April 8th. Jones Trading began coverage on Clene in a report on Wednesday, April 23rd. They issued a “buy” rating and a $30.00 price objective for the company. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $23.00 target price on shares of Clene in a report on Tuesday, April 8th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $50.20.

Clene Stock Down 10.5 %

CLNN opened at $2.55 on Thursday. The company has a fifty day moving average of $3.43 and a 200-day moving average of $4.37. Clene Inc. has a twelve month low of $2.55 and a twelve month high of $9.20. The stock has a market cap of $22.69 million, a PE ratio of -0.48 and a beta of 0.46.

Clene (NASDAQ:CLNN) last announced its earnings results on Monday, March 24th. The company reported ($1.67) EPS for the quarter, missing the consensus estimate of ($1.21) by ($0.46). The business had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.13 million. Clene had a negative net margin of 8,556.77% and a negative return on equity of 1,106.30%. Sell-side analysts anticipate that Clene Inc. will post -5.19 EPS for the current fiscal year.

Clene 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.