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

HC Wainwright restated their buy rating on shares of Clene (NASDAQ:CLNN) in a research note released on Wednesday,Benzinga reports. The firm currently has a $31.00 price objective on the stock.

Several other brokerages have also recently issued reports on CLNN. Canaccord Genuity Group decreased their price objective on Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Benchmark decreased their price objective on Clene from $90.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $23.00 price objective on shares of Clene in a report on Wednesday. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Clene presently has a consensus rating of “Buy” and a consensus price target of $55.25.

Clene Price Performance

CLNN stock opened at $4.43 on Wednesday. Clene has a 1-year low of $3.82 and a 1-year high of $9.20. The company has a market capitalization of $36.88 million, a price-to-earnings ratio of -0.84 and a beta of 0.27. The business has a 50 day simple moving average of $4.68 and a two-hundred day simple moving average of $4.98.

Institutional Trading of Clene

Several hedge funds and other institutional investors have recently bought and sold shares of CLNN. Parsons Capital Management Inc. RI purchased a new stake in Clene during the 4th quarter valued at $194,000. Geode Capital Management LLC raised its holdings in Clene by 52.9% during the 4th quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock valued at $346,000 after buying an additional 22,539 shares during the period. Renaissance Technologies LLC purchased a new stake in Clene during the 4th quarter valued at $96,000. SBI Securities Co. Ltd. purchased a new stake in Clene during the 4th quarter valued at $69,000. Finally, Fullcircle Wealth LLC purchased a new stake in Clene during the 4th quarter valued at $69,000. Hedge funds and other institutional investors own 23.28% of the company’s stock.

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.