Benchmark Reiterates “Buy” Rating for Clene (NASDAQ:CLNN)

Benchmark restated their buy rating on shares of Clene (NASDAQ:CLNN) in a report issued on Thursday morning, Benzinga reports. Benchmark currently has a $5.00 target price on the stock.

Separately, HC Wainwright reissued a buy rating and set a $7.00 price objective on shares of Clene in a research note on Wednesday, May 8th.

Clene Price Performance

CLNN stock opened at $0.35 on Thursday. The firm has a market cap of $45.08 million, a P/E ratio of -0.76 and a beta of 0.47. The firm’s fifty day moving average is $0.39 and its 200 day moving average is $0.41. Clene has a 52 week low of $0.25 and a 52 week high of $1.09. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.22 and a current ratio of 1.23.

Clene (NASDAQ:CLNN) last released its quarterly earnings data on Wednesday, March 13th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $0.17 million for the quarter, compared to the consensus estimate of $0.14 million. Clene had a negative return on equity of 224.28% and a negative net margin of 7,873.23%. Research analysts predict that Clene will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Clene stock. Silverarc Capital Management LLC grew its holdings in shares of Clene Inc. (NASDAQ:CLNN) by 100.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 500,000 shares of the company’s stock after buying an additional 250,000 shares during the period. Silverarc Capital Management LLC owned 0.39% of Clene worth $248,000 as of its most recent SEC filing. 23.28% of the stock is owned by hedge funds and other 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.