Clene (NASDAQ:CLNN) Given Buy Rating at HC Wainwright

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $31.00 price objective on the stock.

Other equities analysts have also recently issued reports about the company. D. Boral Capital reissued a “buy” rating and set a $23.00 price target on shares of Clene in a report on Tuesday. Canaccord Genuity Group cut their price objective on shares of Clene from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Finally, Benchmark reduced 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. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $55.25.

Clene Stock Performance

Shares of CLNN traded up $0.10 during mid-day trading on Tuesday, hitting $4.33. 33,701 shares of the company traded hands, compared to its average volume of 58,804. The stock has a market cap of $36.05 million, a price-to-earnings ratio of -0.82 and a beta of 0.24. The stock has a 50-day moving average price of $4.81 and a two-hundred day moving average price of $5.06. Clene has a 1 year low of $3.82 and a 1 year high of $10.40.

Institutional Trading of Clene

Several institutional investors and hedge funds have recently modified their holdings of CLNN. Fullcircle Wealth LLC bought a new position in Clene in the 4th quarter worth $69,000. SBI Securities Co. Ltd. bought a new position in shares of Clene in the fourth quarter worth about $69,000. Renaissance Technologies LLC purchased a new stake in shares of Clene during the fourth quarter worth about $96,000. Geode Capital Management LLC raised its stake in Clene by 52.9% during the 4th quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock valued at $346,000 after purchasing an additional 22,539 shares during the period. Finally, Parsons Capital Management Inc. RI bought a new stake in Clene during the 4th quarter valued at approximately $194,000. 23.28% of the stock is currently owned by institutional investors.

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.