Clene Inc. (NASDAQ:CLNN) Stock Has Consensus Target Price of $34.00 According to Brokerages

Shares of Clene Inc. (NASDAQ:CLNN) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $34.00.

A number of equities analysts recently commented on CLNN shares. HC Wainwright reaffirmed a “buy” rating on shares of Clene in a research report on Monday, August 17th. Weiss Ratings lowered shares of Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 25th.

Clene Price Performance

CLNN stock opened at $4.08 on Wednesday. The stock has a market capitalization of $53.00 million, a price-to-earnings ratio of -1.17 and a beta of 0.91. The business’s fifty day moving average price is $4.35 and its two-hundred day moving average price is $5.47. Clene has a fifty-two week low of $3.25 and a fifty-two week high of $13.50.

Clene (NASDAQ:CLNN) last posted its earnings results on Friday, August 14th. The company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.71). The firm had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.06 million. Research analysts expect that Clene will post -1.7 EPS for the current year.

Institutional Investors Weigh In On Clene

An institutional investor recently bought a new position in Clene stock. PEAK6 LLC acquired a new position in shares of Clene Inc. (NASDAQ:CLNN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 50,012 shares of the company’s stock, valued at approximately $294,000. PEAK6 LLC owned 0.46% of Clene at the end of the most recent reporting period. 23.28% of the stock is owned by hedge funds and other institutional investors.

Clene Company Profile

Clene Inc (NASDAQ: CLNN) is a clinical-stage biopharmaceutical company focused on developing nanotherapeutics for neurodegenerative diseases. The company’s platform uses nanocrystals designed to influence cellular energy production and protect or restore the function of nerve cells.

Clene’s leading investigational product is CNM-Au8, an orally administered suspension containing catalytically active gold nanocrystals. The therapy is being evaluated in clinical studies for conditions including amyotrophic lateral sclerosis (ALS), multiple sclerosis and Parkinson’s disease.