Clene Inc. (NASDAQ:CLNN) Short Interest Update

Clene Inc. (NASDAQ:CLNN) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 262,500 shares, a drop of 38.5% from the February 29th total of 427,100 shares. Based on an average daily volume of 1,090,000 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analyst Weigh In

CLNN has been the topic of a number of recent research reports. Benchmark restated a “buy” rating and set a $5.00 price target on shares of Clene in a research report on Wednesday, March 20th. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Clene in a research report on Wednesday, March 13th.

Clene Trading Up 0.1 %

Shares of Clene stock traded up $0.00 on Thursday, reaching $0.43. The company had a trading volume of 238,227 shares, compared to its average volume of 795,114. Clene has a 52-week low of $0.25 and a 52-week high of $1.22. The firm’s 50 day moving average price is $0.44 and its two-hundred day moving average price is $0.44. The firm has a market cap of $54.63 million, a PE ratio of -0.82 and a beta of 0.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.53 and a current ratio of 1.53.

Institutional Investors Weigh In On Clene

Large investors have recently added to or reduced their stakes in the business. AWM Investment Company Inc. acquired a new position in Clene during the 2nd quarter worth approximately $4,400,000. Worth Venture Partners LLC acquired a new position in Clene during the 2nd quarter worth approximately $1,305,000. Hudson Bay Capital Management LP acquired a new position in shares of Clene in the 2nd quarter valued at $1,213,000. Silverarc Capital Management LLC acquired a new position in shares of Clene in the 2nd quarter valued at $220,000. Finally, Millennium Management LLC acquired a new position in shares of Clene in the 2nd quarter valued at $620,000. 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 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.