Clene’s (CLNN) “Buy” Rating Reaffirmed at D. Boral Capital

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

Other equities analysts have also issued reports about the stock. HC Wainwright reiterated a “buy” rating and set a $31.00 target price on shares of Clene in a report on Tuesday, April 8th. Jones Trading initiated coverage on Clene in a research report on Wednesday, April 23rd. They set a “buy” rating and a $30.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Clene has an average rating of “Buy” and an average price target of $40.00.

Clene Stock Up 1.9 %

Shares of CLNN stock opened at $2.63 on Thursday. The business’s fifty day moving average is $3.37 and its 200 day moving average is $4.32. The stock has a market cap of $23.40 million, a price-to-earnings ratio of -0.50 and a beta of 0.46. Clene has a twelve month low of $2.55 and a twelve month high of $9.20.

Clene (NASDAQ:CLNN) last released its earnings results on Wednesday, May 7th. The company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.60. Clene had a negative net margin of 8,556.77% and a negative return on equity of 1,106.30%. The firm had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.07 million. Equities research analysts expect that Clene will post -5.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clene

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Clene by 52.9% during the 4th quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock valued at $346,000 after purchasing an additional 22,539 shares during the last quarter. Parsons Capital Management Inc. RI bought a new position in shares of Clene during the fourth quarter valued at $194,000. Renaissance Technologies LLC purchased a new stake in shares of Clene during the fourth quarter valued at $96,000. SBI Securities Co. Ltd. bought a new stake in Clene in the 4th quarter worth about $69,000. Finally, Fullcircle Wealth LLC purchased a new position in Clene in the 4th quarter worth about $69,000. Institutional investors 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.