Clene (NASDAQ:CLNN) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Clene (NASDAQ:CLNN) in a report released on Wednesday,Benzinga reports. HC Wainwright currently has a $31.00 price target on the stock.

A number of other equities research analysts also recently weighed in on the company. Canaccord Genuity Group dropped their price objective on Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. D. Boral Capital reaffirmed a “buy” rating and set a $23.00 price objective on shares of Clene in a research report on Wednesday. Finally, Benchmark dropped their price objective on Clene from $90.00 to $84.00 and set a “buy” rating on the stock in a research report 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.com, Clene presently has a consensus rating of “Buy” and an average target price of $55.25.

Clene Price Performance

Shares of CLNN stock opened at $4.40 on Wednesday. Clene has a 1-year low of $3.82 and a 1-year high of $9.76. The stock’s 50-day moving average is $4.71 and its 200 day moving average is $4.99. The company has a market cap of $36.63 million, a P/E ratio of -0.83 and a beta of 0.27.

Institutional Investors Weigh In On Clene

Institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in Clene in the fourth quarter worth about $69,000. Fullcircle Wealth LLC purchased a new position in shares of Clene in the fourth quarter worth about $69,000. Renaissance Technologies LLC purchased a new position in shares of Clene in the fourth quarter worth about $96,000. Parsons Capital Management Inc. RI purchased a new position in shares of Clene in the fourth quarter worth about $194,000. Finally, Geode Capital Management LLC raised its stake in shares of Clene by 52.9% in the fourth quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock worth $346,000 after purchasing an additional 22,539 shares during the last quarter. Institutional investors and hedge funds 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.