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

HC Wainwright restated their buy rating on shares of Clene (NASDAQ:CLNN) in a research report report published on Monday, Benzinga reports. They currently have a $31.00 price target on the stock.

A number of other equities research analysts have also recently commented on CLNN. Canaccord Genuity Group reiterated a buy rating and set a $94.00 target price on shares of Clene in a report on Tuesday, August 6th. Benchmark reiterated a buy rating and set a $100.00 price objective on shares of Clene in a research report on Thursday, May 23rd. Finally, EF Hutton Acquisition Co. I upgraded shares of Clene to a strong-buy rating in a report on Tuesday, September 10th.

Clene Trading Up 3.4 %

Shares of CLNN stock opened at $5.19 on Monday. The stock has a market cap of $33.58 million, a P/E ratio of -0.56 and a beta of 0.49. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.66. Clene has a fifty-two week low of $3.82 and a fifty-two week high of $13.20. The business has a fifty day simple moving average of $5.18 and a 200-day simple moving average of $6.75.

Clene (NASDAQ:CLNN) last announced its earnings results on Wednesday, August 7th. The company reported ($1.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.60) by $0.54. The company had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.10 million. Clene had a negative net margin of 6,890.50% and a negative return on equity of 315.97%. On average, analysts forecast that Clene will post -5.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clene

An institutional investor recently raised its position in Clene stock. Csenge Advisory Group boosted its holdings in Clene Inc. (NASDAQ:CLNN) by 131.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 269,600 shares of the company’s stock after buying an additional 153,000 shares during the period. Csenge Advisory Group owned 0.21% of Clene worth $96,000 at the end of the most recent reporting period. 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.