Clene’s (CLNN) “Buy” Rating Reaffirmed at D. Boral Capital

D. Boral Capital reissued their buy rating on shares of Clene (NASDAQ:CLNN) in a report issued on Monday morning,Benzinga reports. D. Boral Capital currently has a $23.00 target price on the stock.

Separately, HC Wainwright reissued a “buy” rating and issued a $31.00 price target on shares of Clene in a research note on Wednesday, March 12th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Clene presently has a consensus rating of “Buy” and a consensus target price of $55.25.

Clene Stock Performance

NASDAQ CLNN opened at $3.54 on Monday. Clene has a fifty-two week low of $3.37 and a fifty-two week high of $9.20. The firm has a market capitalization of $29.47 million, a P/E ratio of -0.67 and a beta of 0.27. The stock’s fifty day moving average is $4.49 and its two-hundred day moving average is $4.88.

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

Institutional Trading of Clene

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Fullcircle Wealth LLC acquired a new position in shares of Clene in the 4th quarter worth approximately $69,000. Renaissance Technologies LLC purchased a new stake in Clene in the fourth quarter valued at approximately $96,000. Geode Capital Management LLC lifted its stake in 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 in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Clene during the fourth quarter worth $69,000. Finally, Parsons Capital Management Inc. RI purchased a new position in shares of Clene during the fourth quarter worth $194,000. 23.28% of the stock is owned by institutional investors and hedge funds.

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.