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

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

Separately, HC Wainwright restated a “buy” rating and issued a $31.00 price target on shares of Clene in a report on Tuesday. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $55.25.

Clene Stock Performance

Shares of NASDAQ CLNN opened at $3.04 on Tuesday. Clene has a one year low of $2.57 and a one year high of $9.20. The firm has a market capitalization of $26.13 million, a P/E ratio of -0.58 and a beta of 0.46. The company’s fifty day moving average is $4.03 and its two-hundred day moving average is $4.66.

Clene (NASDAQ:CLNN) last released its quarterly earnings data on Monday, March 24th. The company reported ($1.67) EPS for the quarter, missing analysts’ consensus estimates of ($1.21) by ($0.46). Clene had a negative return on equity of 1,106.30% and a negative net margin of 8,556.77%. The company had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.13 million. On average, sell-side analysts forecast that Clene will post -5.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clene

Several hedge funds have recently added to or reduced their stakes in CLNN. Fullcircle Wealth LLC acquired a new stake in shares of Clene in the fourth quarter valued at approximately $69,000. Renaissance Technologies LLC acquired a new position in shares of Clene during the 4th quarter worth approximately $96,000. Geode Capital Management LLC lifted its stake 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 in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Clene during the 4th quarter valued at $69,000. Finally, Parsons Capital Management Inc. RI purchased a new position in Clene during the fourth quarter worth $194,000. 23.28% of the stock is currently owned by hedge funds and other institutional investors.

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.