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

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reissued by investment analysts at D. Boral Capital in a research report issued on Tuesday,Benzinga reports. They currently have a $23.00 price target on the stock. D. Boral Capital’s price objective would indicate a potential upside of 443.74% from the company’s previous close.

Several other analysts also recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $31.00 target price on shares of Clene in a research note on Thursday, November 14th. Benchmark lowered their price objective on Clene from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, 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 report on Thursday, November 14th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $55.25.

Clene Trading Down 4.5 %

Shares of CLNN stock opened at $4.23 on Tuesday. The firm has a fifty day simple moving average of $4.81 and a 200-day simple moving average of $5.06. The company has a market capitalization of $35.24 million, a PE ratio of -0.80 and a beta of 0.24. Clene has a twelve month low of $3.82 and a twelve month high of $10.40.

Hedge Funds Weigh In On Clene

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Clene by 52.9% during 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 in the last quarter. Parsons Capital Management Inc. RI acquired a new stake in shares of Clene during the 4th quarter valued at approximately $194,000. Renaissance Technologies LLC acquired a new position in Clene in the fourth quarter worth $96,000. SBI Securities Co. Ltd. acquired a new position in Clene in the fourth quarter worth $69,000. Finally, Fullcircle Wealth LLC acquired a new stake in shares of Clene during the fourth quarter worth $69,000. 23.28% of the stock is currently owned by institutional investors and hedge funds.

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.