Clene (NASDAQ:CLNN) Earns Buy Rating from D. Boral Capital

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating restated by analysts at D. Boral Capital in a research note issued on Thursday,Benzinga reports. They presently have a $23.00 target price on the stock. D. Boral Capital’s price target suggests a potential upside of 427.52% from the stock’s current price.

Other analysts also recently issued research reports about the stock. HC Wainwright reissued a “buy” rating and set a $31.00 target price on shares of Clene in a research report on Thursday, November 14th. Benchmark cut their target price on Clene from $90.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, Canaccord Genuity Group lowered their price target on Clene from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $55.25.

Clene Stock Performance

Shares of NASDAQ CLNN opened at $4.36 on Thursday. Clene has a fifty-two week low of $3.82 and a fifty-two week high of $10.65. The company has a market cap of $35.97 million, a PE ratio of -0.83 and a beta of 0.24. The business has a 50-day simple moving average of $4.79 and a two-hundred day simple moving average of $5.04.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Castleview Partners LLC acquired a new stake in Clene during the 3rd quarter worth about $59,000. SBI Securities Co. Ltd. purchased a new stake in shares of Clene in the fourth quarter worth about $69,000. Finally, Parsons Capital Management Inc. RI acquired a new stake in Clene during the fourth quarter worth about $194,000. 23.28% of the stock is currently owned by institutional investors and hedge funds.

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.