Clene’s (CLNN) “Buy” Rating Reaffirmed at D. Boral Capital

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reaffirmed by stock analysts at D. Boral Capital in a report issued on Thursday,Benzinga reports. They presently have a $23.00 target price on the stock. D. Boral Capital’s price target points to a potential upside of 396.76% from the stock’s previous close.

Other research analysts have also issued reports about the company. Canaccord Genuity Group lowered their target price on Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. HC Wainwright reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Clene in a research note on Thursday, November 14th. Finally, Benchmark cut their target price on shares of Clene from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $55.25.

Clene Stock Performance

Shares of NASDAQ CLNN opened at $4.63 on Thursday. Clene has a 1 year low of $3.82 and a 1 year high of $10.65. The firm has a market cap of $38.20 million, a P/E ratio of -0.88 and a beta of 0.24. The stock has a fifty day moving average price of $4.78 and a two-hundred day moving average price of $5.05.

Institutional Investors Weigh In On Clene

Hedge funds have recently made changes to their positions in the company. Castleview Partners LLC acquired a new position in Clene during the third quarter valued at $59,000. SBI Securities Co. Ltd. bought a new stake in shares of Clene in the 4th quarter valued at approximately $69,000. Finally, Parsons Capital Management Inc. RI bought a new position in Clene during the fourth quarter valued at approximately $194,000. Hedge funds and other 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.