Clene Inc. (NASDAQ:CLNN – Get Free Report) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 176,200 shares, an increase of 17.9% from the September 15th total of 149,400 shares. Approximately 4.0% of the company’s shares are sold short. Based on an average daily trading volume, of 135,100 shares, the short-interest ratio is currently 1.3 days.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on CLNN shares. EF Hutton Acquisition Co. I raised shares of Clene to a “strong-buy” rating in a research report on Tuesday, September 10th. Canaccord Genuity Group lowered their price objective on shares of Clene from $94.00 to $86.00 and set a “buy” rating for the company in a report on Friday, October 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $31.00 price objective on shares of Clene in a research report on Monday, September 16th.
Read Our Latest Stock Analysis on CLNN
Insider Transactions at Clene
Institutional Inflows and Outflows
An institutional investor recently raised its position in Clene stock. Csenge Advisory Group grew its stake in Clene Inc. (NASDAQ:CLNN – Free Report) by 131.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 269,600 shares of the company’s stock after acquiring an additional 153,000 shares during the quarter. Csenge Advisory Group owned 0.21% of Clene worth $96,000 at the end of the most recent quarter. 23.28% of the stock is owned by hedge funds and other institutional investors.
Clene Stock Down 3.1 %
Shares of CLNN stock traded down $0.18 during mid-day trading on Wednesday, reaching $5.67. 37,421 shares of the company’s stock traded hands, compared to its average volume of 72,488. The company’s 50-day moving average price is $5.33 and its 200-day moving average price is $6.29. The company has a market cap of $36.41 million, a P/E ratio of -0.62 and a beta of 0.48. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.66. Clene has a 12 month low of $3.82 and a 12 month high of $12.00.
Clene (NASDAQ:CLNN – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($1.06) EPS for the quarter, topping the consensus estimate of ($1.60) by $0.54. Clene had a negative net margin of 6,890.50% and a negative return on equity of 315.97%. The business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.10 million. On average, equities analysts expect that Clene will post -5.26 earnings per share for the current fiscal year.
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.
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