Clene’s (CLNN) Buy Rating Reiterated at D. Boral Capital

D. Boral Capital reissued their buy rating on shares of Clene (NASDAQ:CLNN) in a research note published on Monday,Benzinga reports. They currently have a $23.00 price target on the stock.

Separately, HC Wainwright reissued a “buy” rating and issued a $31.00 price target on shares of Clene in a report on Wednesday, March 12th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $55.25.

Clene Stock Up 2.3 %

NASDAQ:CLNN opened at $3.54 on Monday. Clene has a 52 week low of $3.37 and a 52 week high of $9.20. The stock’s 50-day moving average price is $4.49 and its 200-day moving average price is $4.88. The stock has a market capitalization of $29.47 million, a PE ratio of -0.67 and a beta of 0.27.

Clene (NASDAQ:CLNN) last issued its quarterly earnings data on Monday, March 24th. The company reported ($1.67) EPS for the quarter, missing the consensus estimate of ($1.21) by ($0.46). The business had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.13 million. Clene had a negative net margin of 8,556.77% and a negative return on equity of 1,106.30%. Sell-side analysts expect that Clene will post -5.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clene

Hedge funds have recently made changes to their positions in the company. Parsons Capital Management Inc. RI acquired a new stake in shares of Clene in the fourth quarter worth approximately $194,000. SBI Securities Co. Ltd. acquired a new stake in Clene during the 4th quarter worth $69,000. Fullcircle Wealth LLC purchased a new stake in shares of Clene during the fourth quarter worth $69,000. Renaissance Technologies LLC purchased a new stake in shares of Clene during the fourth quarter worth $96,000. Finally, Geode Capital Management LLC raised its position 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 valued at $346,000 after buying 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.