Clene Inc. (NASDAQ:CLNN) Short Interest Up 706.6% in August

Clene Inc. (NASDAQ:CLNN) was the recipient of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 158,100 shares, an increase of 706.6% from the July 31st total of 19,600 shares. Based on an average daily trading volume, of 112,000 shares, the short-interest ratio is currently 1.4 days. Currently, 4.1% of the company’s stock are short sold.

Institutional Investors Weigh In On Clene

A hedge fund recently raised its stake in Clene stock. Csenge Advisory Group boosted its stake in shares of Clene Inc. (NASDAQ:CLNN) by 131.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 269,600 shares of the company’s stock after purchasing an additional 153,000 shares during the period. Csenge Advisory Group owned approximately 0.21% of Clene worth $96,000 at the end of the most recent reporting period. 23.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Clene in a research note on Thursday, May 23rd. HC Wainwright upped their price target on shares of Clene from $7.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $94.00 price objective on shares of Clene in a report on Tuesday, August 6th.

Clene Trading Up 0.2 %

NASDAQ CLNN opened at $5.60 on Wednesday. Clene has a 52 week low of $3.82 and a 52 week high of $15.57. The company has a 50 day moving average price of $5.55 and a 200 day moving average price of $7.06. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.66. The firm has a market cap of $35.96 million, a PE ratio of -0.61 and a beta of 0.46.

Clene (NASDAQ:CLNN) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($1.06) EPS for the quarter, beating the consensus estimate of ($1.60) by $0.54. Clene had a negative return on equity of 315.97% and a negative net margin of 6,890.50%. The firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.10 million. As a group, sell-side analysts forecast that Clene will post -5.26 EPS for the current fiscal year.

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.