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

D. Boral Capital reaffirmed their buy rating on shares of Clene (NASDAQ:CLNN) in a research report released on Wednesday,Benzinga reports. The brokerage currently has a $23.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $31.00 price objective on shares of Clene in a research report on Tuesday, February 25th. Canaccord Genuity Group cut their price objective on Clene from $86.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, Benchmark lowered their target price on shares of Clene from $90.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Four equities research 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 currently has an average rating of “Buy” and a consensus price target of $55.25.

Clene Stock Performance

Shares of NASDAQ:CLNN opened at $4.43 on Wednesday. The company has a market capitalization of $36.88 million, a P/E ratio of -0.84 and a beta of 0.27. Clene has a fifty-two week low of $3.82 and a fifty-two week high of $9.20. The company’s 50-day moving average is $4.68 and its 200 day moving average is $4.98.

Institutional Investors Weigh In On Clene

Hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in Clene during the 4th quarter valued at about $69,000. Fullcircle Wealth LLC purchased a new stake in shares of Clene during the fourth quarter valued at approximately $69,000. Renaissance Technologies LLC bought a new stake in shares of Clene during the fourth quarter valued at approximately $96,000. Parsons Capital Management Inc. RI purchased a new position in Clene in the 4th quarter worth approximately $194,000. Finally, Geode Capital Management LLC lifted its position 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 acquiring an additional 22,539 shares in the last quarter. 23.28% of the stock is owned by 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.