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

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

Other equities research analysts also recently issued reports about the company. Benchmark reissued a buy rating and set a $100.00 target price on shares of Clene in a research report on Thursday, May 23rd. EF Hutton Acquisition Co. I raised Clene to a strong-buy rating in a report on Tuesday, September 10th. Finally, Canaccord Genuity Group reaffirmed a buy rating and set a $94.00 price objective on shares of Clene in a report on Tuesday, August 6th.

Clene Stock Down 17.1 %

CLNN stock opened at $5.59 on Monday. Clene has a twelve month low of $3.82 and a twelve month high of $13.20. The company has a market cap of $35.90 million, a PE ratio of -0.61 and a beta of 0.49. The business’s 50-day simple moving average is $5.19 and its 200 day simple moving average is $6.78. 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 (NASDAQ:CLNN) last released its earnings results on Wednesday, August 7th. The company reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.60) by $0.54. Clene had a negative return on equity of 315.97% and a negative net margin of 6,890.50%. The business had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.10 million. On average, research analysts anticipate that Clene will post -5.26 earnings per share for the current year.

Institutional Investors Weigh In On Clene

An institutional investor recently raised its position in Clene stock. Csenge Advisory Group lifted its holdings 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 acquiring an additional 153,000 shares during the quarter. Csenge Advisory Group owned approximately 0.21% of Clene worth $96,000 at the end of the most recent reporting period. 23.28% of the stock is owned by institutional investors and hedge funds.

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.