Clene Inc. (NASDAQ:CLNN) Short Interest Down 24.8% in March

Clene Inc. (NASDAQ:CLNN) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 86,500 shares, a decrease of 24.8% from the February 28th total of 115,100 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 55,200 shares, the short-interest ratio is currently 1.6 days.

Institutional Investors Weigh In On Clene

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

Clene Stock Performance

Clene stock traded down $0.15 during midday trading on Monday, hitting $3.07. 27,133 shares of the company were exchanged, compared to its average volume of 78,035. The business has a fifty day simple moving average of $4.43 and a two-hundred day simple moving average of $4.84. The firm has a market capitalization of $26.36 million, a PE ratio of -0.58 and a beta of 0.27. Clene has a fifty-two week low of $3.05 and a fifty-two week high of $9.20.

Clene (NASDAQ:CLNN) last issued its quarterly earnings data on Monday, March 24th. The company reported ($1.67) EPS for the quarter, missing analysts’ consensus estimates of ($1.21) by ($0.46). Clene had a negative return on equity of 1,106.30% and a negative net margin of 8,556.77%. The firm had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.13 million. As a group, equities analysts expect that Clene will post -5.19 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $31.00 price target on shares of Clene in a research report on Monday, March 24th. D. Boral Capital reissued a “buy” rating and set a $23.00 target price on shares of Clene in a report on Monday, March 24th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $55.25.

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.