Clene (NASDAQ:CLNN) Upgraded at EF Hutton Acquisition Co. I

Clene (NASDAQ:CLNN) was upgraded by equities researchers at EF Hutton Acquisition Co. I to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

A number of other brokerages also recently issued reports on CLNN. Canaccord Genuity Group reiterated a “buy” rating and set a $94.00 price target on shares of Clene in a research report on Tuesday, August 6th. Benchmark reaffirmed a “buy” rating and set a $100.00 target price on shares of Clene in a research note on Thursday, May 23rd. Finally, HC Wainwright lifted their price target on shares of Clene from $7.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, August 9th.

Clene Price Performance

Shares of NASDAQ CLNN opened at $6.09 on Tuesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.99 and a quick ratio of 0.99. The firm’s 50 day simple moving average is $5.23 and its 200-day simple moving average is $6.84. Clene has a 12 month low of $3.82 and a 12 month high of $13.50. The stock has a market capitalization of $39.40 million, a price-to-earnings ratio of -0.66 and a beta of 0.48.

Clene (NASDAQ:CLNN) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($1.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.60) by $0.54. Clene had a negative net margin of 6,890.50% and a negative return on equity of 315.97%. The company had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.10 million. Analysts expect that Clene will post -5.26 EPS for the current year.

Institutional Investors Weigh In On Clene

A hedge fund recently raised its stake in Clene stock. Csenge Advisory Group increased its position in shares of Clene Inc. (NASDAQ:CLNN) by 131.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 269,600 shares of the company’s stock after purchasing an additional 153,000 shares during the quarter. Csenge Advisory Group owned approximately 0.21% of Clene worth $96,000 as of its most recent filing with the SEC. Institutional investors own 23.28% of the company’s stock.

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 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.