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 Tuesday morning,Benzinga reports. The brokerage currently has a $31.00 target price on the stock.

A number of other research analysts have also recently issued reports on CLNN. Canaccord Genuity Group cut their target price on shares of Clene from $86.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Benchmark dropped their price target on shares of Clene from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, D. Boral Capital reissued a “buy” rating and issued a $23.00 target price on shares of Clene in a research note on Tuesday. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Clene currently has a consensus rating of “Buy” and an average target price of $55.25.

Clene Price Performance

Shares of CLNN stock opened at $4.42 on Tuesday. The firm has a market cap of $36.80 million, a price-to-earnings ratio of -0.84 and a beta of 0.24. The stock’s fifty day simple moving average is $4.81 and its 200 day simple moving average is $5.04. Clene has a one year low of $3.82 and a one year high of $10.40.

Institutional Investors Weigh In On Clene

Several large investors have recently made changes to their positions in the stock. Fullcircle Wealth LLC bought a new stake in shares of Clene in the fourth quarter worth $69,000. Renaissance Technologies LLC acquired a new position in shares of Clene in the fourth quarter valued at approximately $96,000. Geode Capital Management LLC increased its position in Clene by 52.9% during the 4th quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock worth $346,000 after buying an additional 22,539 shares during the period. SBI Securities Co. Ltd. bought a new position in Clene during the fourth quarter worth about $69,000. Finally, Parsons Capital Management Inc. RI bought a new position in shares of Clene during the fourth quarter worth approximately $194,000. 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.