Clene’s (CLNN) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Clene (NASDAQ:CLNN) in a research report sent to investors on Wednesday morning,Benzinga reports. HC Wainwright currently has a $31.00 price objective on the stock.

A number of other equities analysts also recently issued reports on the company. D. Boral Capital reissued a “buy” rating and set a $23.00 price target on shares of Clene in a research report on Wednesday. Benchmark dropped their price target on Clene from $90.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, Canaccord Genuity Group dropped their price target on Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Four investment 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, the company currently has an average rating of “Buy” and an average target price of $55.25.

Clene Trading Up 1.4 %

CLNN opened at $4.43 on Wednesday. Clene has a 12-month low of $3.82 and a 12-month high of $9.20. The business’s fifty day simple moving average is $4.68 and its 200-day simple moving average is $4.98. The company has a market capitalization of $36.88 million, a price-to-earnings ratio of -0.84 and a beta of 0.27.

Institutional Investors Weigh In On Clene

Several institutional investors have recently added to or reduced their stakes in the business. Fullcircle Wealth LLC acquired a new stake in Clene in the fourth quarter worth about $69,000. Renaissance Technologies LLC purchased a new position in shares of Clene in the fourth quarter worth about $96,000. Geode Capital Management LLC raised its stake in shares of Clene by 52.9% in the fourth 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. SBI Securities Co. Ltd. purchased a new position in shares of Clene in the fourth quarter worth about $69,000. Finally, Parsons Capital Management Inc. RI purchased a new position in shares of Clene in the fourth quarter worth about $194,000. Institutional investors and hedge funds own 23.28% of the company’s stock.

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.