Clene (NASDAQ:CLNN) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Clene (NASDAQ:CLNN) in a report issued on Tuesday,Benzinga reports. HC Wainwright currently has a $31.00 target price on the stock.

Separately, D. Boral Capital restated a “buy” rating and issued a $23.00 target price on shares of Clene in a research report on Monday, March 24th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $55.25.

Clene Stock Up 1.3 %

CLNN opened at $3.04 on Tuesday. The firm’s fifty day simple moving average is $4.03 and its two-hundred day simple moving average is $4.66. Clene has a 52-week low of $2.57 and a 52-week high of $9.20. The company has a market cap of $26.13 million, a price-to-earnings ratio of -0.58 and a beta of 0.46.

Clene (NASDAQ:CLNN) last released its quarterly earnings results on Monday, March 24th. The company reported ($1.67) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $0.13 million. On average, research analysts forecast that Clene will post -5.19 EPS for the current year.

Hedge Funds Weigh In On Clene

Several hedge funds and other institutional investors have recently modified their holdings of CLNN. Fullcircle Wealth LLC acquired a new stake in Clene in the 4th quarter valued at about $69,000. SBI Securities Co. Ltd. purchased a new stake in shares of Clene in the fourth quarter valued at approximately $69,000. Renaissance Technologies LLC acquired a new stake in shares of Clene in the fourth quarter valued at approximately $96,000. Parsons Capital Management Inc. RI purchased a new position in Clene during the fourth quarter worth approximately $194,000. Finally, Geode Capital Management LLC boosted its stake in Clene by 52.9% during 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 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.