HC Wainwright Reaffirms “Buy” Rating for Clene (NASDAQ:CLNN)

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They currently have a $31.00 price target on the stock. HC Wainwright also issued estimates for Clene’s FY2028 earnings at $5.26 EPS.

Separately, D. Boral Capital reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Clene in a research note on Monday. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $55.25.

Clene Stock Performance

CLNN opened at $3.46 on Monday. The stock has a market capitalization of $28.81 million, a price-to-earnings ratio of -0.66 and a beta of 0.27. The company has a fifty day moving average of $4.52 and a 200 day moving average of $4.89. Clene has a fifty-two week low of $3.37 and a fifty-two week high of $9.20.

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

Institutional Trading of Clene

Several hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new stake in Clene during the fourth quarter worth approximately $69,000. Fullcircle Wealth LLC bought a new position in shares of Clene during the 4th quarter valued at approximately $69,000. Renaissance Technologies LLC bought a new position in shares of Clene during the 4th quarter valued at approximately $96,000. Parsons Capital Management Inc. RI purchased a new stake in Clene during the 4th quarter valued at $194,000. Finally, Geode Capital Management LLC lifted its position in 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 buying an additional 22,539 shares during the last quarter. 23.28% of the stock is currently owned by hedge funds and other 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.