Clene (NASDAQ:CLNN) Earns “Buy” Rating from HC Wainwright

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reissued by HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $31.00 price objective on the stock. HC Wainwright also issued estimates for Clene’s FY2028 earnings at $5.26 EPS.

Separately, D. Boral Capital reiterated a “buy” rating and set a $23.00 price objective on shares of Clene in a research note on Monday. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $55.25.

Clene Stock Down 11.7 %

Shares of NASDAQ CLNN opened at $3.46 on Monday. Clene has a twelve month low of $3.37 and a twelve month high of $9.20. The firm has a market cap of $28.81 million, a PE ratio of -0.66 and a beta of 0.27. The business has a fifty day simple moving average of $4.52 and a two-hundred day simple moving average of $4.89.

Clene (NASDAQ:CLNN) last released its quarterly earnings data on Monday, March 24th. The company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($1.21) by ($0.46). Clene had a negative net margin of 8,556.77% and a negative return on equity of 1,106.30%. The firm had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.13 million. On average, research analysts expect that Clene will post -5.19 earnings per share for the current year.

Hedge Funds Weigh In On Clene

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new stake in shares of Clene during the fourth quarter valued at about $69,000. Fullcircle Wealth LLC bought a new position in shares of Clene during the 4th quarter worth approximately $69,000. Renaissance Technologies LLC purchased a new stake in Clene during the fourth quarter valued at approximately $96,000. Parsons Capital Management Inc. RI purchased a new stake in Clene during the fourth quarter valued at approximately $194,000. Finally, Geode Capital Management LLC boosted its stake in Clene by 52.9% in the fourth quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock valued at $346,000 after acquiring an additional 22,539 shares in the last quarter. Hedge funds and other institutional investors own 23.28% of the company’s stock.

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.