Clene’s (CLNN) “Buy” Rating Reiterated at HC Wainwright

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reiterated by HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $31.00 price objective on the stock.

CLNN has been the topic of several other research reports. Canaccord Genuity Group cut their target price on shares of Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. D. Boral Capital reissued a “buy” rating and issued a $23.00 price target on shares of Clene in a report on Tuesday. Finally, Benchmark lowered their price objective 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 investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Clene presently has a consensus rating of “Buy” and an average target price of $55.25.

Clene Stock Up 2.4 %

Shares of NASDAQ CLNN traded up $0.10 during midday trading on Tuesday, reaching $4.33. The company had a trading volume of 33,701 shares, compared to its average volume of 58,804. The stock has a market cap of $36.05 million, a PE ratio of -0.82 and a beta of 0.24. Clene has a one year low of $3.82 and a one year high of $10.40. The firm’s fifty day moving average price is $4.81 and its 200-day moving average price is $5.06.

Institutional Trading of Clene

Large investors have recently added to or reduced their stakes in the stock. Fullcircle Wealth LLC bought a new position in Clene in the fourth quarter worth $69,000. SBI Securities Co. Ltd. bought a new position in shares of Clene in the fourth quarter worth approximately $69,000. Renaissance Technologies LLC bought a new stake in shares of Clene during the fourth quarter valued at approximately $96,000. Geode Capital Management LLC raised its holdings in Clene by 52.9% in the 4th quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock worth $346,000 after acquiring an additional 22,539 shares during the last quarter. Finally, Parsons Capital Management Inc. RI bought a new position in Clene in the 4th quarter valued at approximately $194,000. Institutional investors own 23.28% of the company’s stock.

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.