Clene Stock Set to Reverse Split on Thursday, July 11th (NASDAQ:CLNN)

Shares of Clene Inc. (NASDAQ:CLNN) are scheduled to reverse split on Thursday, July 11th. The 1-20 reverse split was announced on Thursday, July 11th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, July 11th.

Clene Stock Down 21.5 %

NASDAQ:CLNN traded down $0.07 during trading hours on Tuesday, hitting $0.27. 2,714,955 shares of the stock traded hands, compared to its average volume of 835,770. Clene has a fifty-two week low of $0.25 and a fifty-two week high of $0.85. The company has a current ratio of 1.23, a quick ratio of 1.22 and a debt-to-equity ratio of 1.66. The firm has a market cap of $35.00 million, a price-to-earnings ratio of -0.59 and a beta of 0.46. The firm has a 50 day moving average price of $0.37 and a 200 day moving average price of $0.39.

Clene (NASDAQ:CLNN) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). Clene had a negative net margin of 7,873.23% and a negative return on equity of 224.28%. The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.16 million. Equities research analysts anticipate that Clene will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Clene in a report on Tuesday, June 18th. Benchmark restated a “buy” rating and set a $5.00 price target on shares of Clene in a report on Thursday, May 23rd.

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.