HC Wainwright Reaffirms “Buy” Rating for Clene (NASDAQ:CLNN)

Clene (NASDAQ:CLNNGet Free Report)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report issued on Tuesday, Benzinga reports. They presently have a $7.00 price target on the stock.

Separately, Benchmark reissued a “buy” rating and set a $5.00 price target on shares of Clene in a report on Thursday, May 23rd.

Read Our Latest Research Report on CLNN

Clene Stock Performance

Clene stock traded up $0.01 on Tuesday, hitting $0.36. The company’s stock had a trading volume of 633,742 shares, compared to its average volume of 854,327. Clene has a one year low of $0.25 and a one year high of $1.09. The firm has a market cap of $46.23 million, a P/E ratio of -0.78 and a beta of 0.47. The company has a quick ratio of 1.22, a current ratio of 1.23 and a debt-to-equity ratio of 1.66. The company has a fifty day moving average price of $0.39 and a 200-day moving average price of $0.41.

Clene (NASDAQ:CLNNGet Free Report) last posted its earnings results on Wednesday, March 13th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Clene had a negative net margin of 7,873.23% and a negative return on equity of 224.28%. The business had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.14 million. On average, equities analysts anticipate that Clene will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Clene stock. Silverarc Capital Management LLC grew its stake in Clene Inc. (NASDAQ:CLNNFree Report) by 100.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 500,000 shares of the company’s stock after acquiring 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 filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 23.28% of the company’s stock.

About Clene

(Get Free Report)

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.

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