Clene (NASDAQ:CLNN) Shares Gap Up to $5.08

Shares of Clene Inc. (NASDAQ:CLNN) gapped up prior to trading on Friday . The stock had previously closed at $5.08, but opened at $5.32. Clene shares last traded at $5.30, with a volume of 13,476 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CLNN shares. Benchmark restated a “buy” rating and issued a $100.00 price target on shares of Clene in a research report on Thursday, May 23rd. HC Wainwright restated a “buy” rating and issued a $140.00 price target on shares of Clene in a research report on Tuesday, June 18th.

Clene Trading Up 3.9 %

The company has a quick ratio of 1.22, a current ratio of 1.23 and a debt-to-equity ratio of 1.66. The firm has a market cap of $678.11 million, a price-to-earnings ratio of -11.60 and a beta of 0.46. The business has a 50 day moving average of $7.27 and a 200 day moving average of $7.86.

Clene (NASDAQ:CLNN) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($1.80) EPS for the quarter, meeting analysts’ consensus estimates of ($1.80). Clene had a negative return on equity of 224.28% and a negative net margin of 7,873.23%. The business had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.16 million. On average, research analysts forecast that Clene Inc. will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Clene

A hedge fund recently raised its stake in Clene stock. Csenge Advisory Group grew its position in Clene Inc. (NASDAQ:CLNN) by 131.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,600 shares of the company’s stock after purchasing an additional 153,000 shares during the period. Csenge Advisory Group owned approximately 0.21% of Clene worth $96,000 as of its most recent SEC filing. 23.28% of the stock is owned by 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.