Clene (NASDAQ:CLNN) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Clene (NASDAQ:CLNN) in a report issued on Monday morning, Benzinga reports. HC Wainwright currently has a $31.00 price objective on the stock.

A number of other brokerages also recently commented on CLNN. EF Hutton Acquisition Co. I upgraded Clene to a strong-buy rating in a research note on Tuesday, September 10th. Canaccord Genuity Group restated a buy rating and issued a $94.00 target price on shares of Clene in a research note on Tuesday, August 6th. Finally, Benchmark restated a buy rating and issued a $100.00 target price on shares of Clene in a research note on Thursday, May 23rd.

Clene Stock Down 5.1 %

NASDAQ:CLNN opened at $5.02 on Monday. The company has a market capitalization of $32.48 million, a price-to-earnings ratio of -0.55 and a beta of 0.49. Clene has a one year low of $3.82 and a one year high of $13.20. The stock has a 50-day simple moving average of $5.19 and a 200 day simple moving average of $6.76. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.99 and a current ratio of 0.99.

Clene (NASDAQ:CLNN) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($1.06) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.10 million. Sell-side analysts predict that Clene will post -5.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Clene

An institutional investor recently raised its position in Clene stock. Csenge Advisory Group lifted its holdings in shares of Clene Inc. (NASDAQ:CLNN) by 131.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 269,600 shares of the company’s stock after buying 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. Hedge funds and other institutional investors own 23.28% of the company’s stock.

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.