Clene Inc. (NASDAQ:CLNN) Short Interest Update

Clene Inc. (NASDAQ:CLNN) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 129,000 shares, a growth of 10.3% from the January 15th total of 117,000 shares. Approximately 2.4% of the shares of the stock are sold short. Based on an average trading volume of 80,600 shares, the days-to-cover ratio is presently 1.6 days.

Hedge Funds Weigh In On Clene

A number of hedge funds have recently modified their holdings of CLNN. Parsons Capital Management Inc. RI acquired a new position in shares of Clene during the fourth quarter worth $194,000. Geode Capital Management LLC lifted its holdings in shares of Clene by 52.9% during the fourth quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock worth $346,000 after purchasing an additional 22,539 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Clene during the fourth quarter worth $96,000. SBI Securities Co. Ltd. acquired a new position in shares of Clene during the fourth quarter worth $69,000. Finally, Castleview Partners LLC acquired a new position in shares of Clene during the third quarter worth $59,000. Institutional investors and hedge funds own 23.28% of the company’s stock.

Clene Trading Up 5.5 %

Shares of NASDAQ:CLNN opened at $4.81 on Friday. The firm’s fifty day moving average is $4.84 and its 200-day moving average is $5.05. Clene has a 52 week low of $3.82 and a 52 week high of $10.40.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CLNN shares. Canaccord Genuity Group decreased their price objective on shares of Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. D. Boral Capital reissued a “buy” rating and issued a $23.00 price objective on shares of Clene in a research note on Thursday, February 6th. Benchmark cut their target price on shares of Clene from $90.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, HC Wainwright restated a “buy” rating and issued a $31.00 target price on shares of Clene in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Clene presently has an average rating of “Buy” and an average target price of $55.25.

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.