Clene’s (CLNN) Buy Rating Reaffirmed at D. Boral Capital

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating restated by investment analysts at D. Boral Capital in a research note issued on Monday,Benzinga reports. They presently have a $23.00 price target on the stock.

Separately, HC Wainwright reissued a “buy” rating and set a $31.00 target price on shares of Clene in a research note on Wednesday, March 12th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $55.25.

Clene Trading Down 11.7 %

Clene stock opened at $3.46 on Monday. The company has a 50-day moving average price of $4.52 and a 200 day moving average price of $4.89. Clene has a 12-month low of $3.37 and a 12-month high of $9.20. The stock has a market cap of $28.81 million, a P/E ratio of -0.66 and a beta of 0.27.

Clene (NASDAQ:CLNN) last announced its quarterly earnings results on Monday, March 24th. The company reported ($1.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.21) by ($0.46). The firm had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.13 million. Clene had a negative return on equity of 1,106.30% and a negative net margin of 8,556.77%. As a group, analysts forecast that Clene will post -5.19 EPS for the current year.

Institutional Investors Weigh In On Clene

A number of institutional investors and hedge funds have recently made changes to their positions in CLNN. Parsons Capital Management Inc. RI purchased a new position in shares of Clene during the 4th quarter worth approximately $194,000. Geode Capital Management LLC lifted its stake in Clene by 52.9% during the fourth quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock worth $346,000 after purchasing an additional 22,539 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Clene during the fourth quarter worth $96,000. SBI Securities Co. Ltd. acquired a new stake in shares of Clene in the fourth quarter valued at $69,000. Finally, Fullcircle Wealth LLC purchased a new stake in shares of Clene in the 4th quarter valued at $69,000. 23.28% of the stock is owned by hedge funds and other 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.