Clene (NASDAQ:CLNN) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Clene (NASDAQ:CLNN) in a research note released on Wednesday, Benzinga reports. The firm currently has a $7.00 price objective on the stock.

Separately, Benchmark reissued a buy rating and set a $5.00 price objective on shares of Clene in a report on Wednesday, March 20th.

Clene Price Performance

Shares of NASDAQ CLNN opened at $0.39 on Wednesday. The company has a market cap of $50.07 million, a price-to-earnings ratio of -0.75 and a beta of 0.47. Clene has a 12-month low of $0.25 and a 12-month high of $1.09. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.53. The firm’s 50-day simple moving average is $0.40 and its 200 day simple moving average is $0.41.

Clene (NASDAQ:CLNN) last announced its quarterly earnings data on Wednesday, March 13th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $0.17 million during the quarter, compared to analysts’ expectations of $0.14 million. Clene had a negative return on equity of 253.48% and a negative net margin of 7,569.42%. On average, research analysts expect that Clene will post -0.33 earnings per share for the current fiscal year.

Institutional Trading of Clene

An institutional investor recently bought a new position in Clene stock. Csenge Advisory Group purchased a new stake in Clene Inc. (NASDAQ:CLNN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 116,600 shares of the company’s stock, valued at approximately $58,000. Csenge Advisory Group owned about 0.09% of Clene at the end of the most recent reporting period. 23.28% of the stock is currently owned by institutional investors.

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.