Clene (NASDAQ:CLNN) Given “Buy” Rating at HC Wainwright

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

Several other research firms have 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 set a $94.00 price objective on shares of Clene in a research report on Tuesday, August 6th. Finally, Benchmark reaffirmed a buy rating and issued a $100.00 target price on shares of Clene in a report on Thursday, May 23rd.

Clene Stock Up 3.4 %

CLNN stock opened at $5.19 on Monday. Clene has a 12 month low of $3.82 and a 12 month high of $13.20. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $33.58 million, a price-to-earnings ratio of -0.56 and a beta of 0.49. The company has a fifty day moving average price of $5.18 and a 200 day moving average price of $6.75.

Clene (NASDAQ:CLNN) last announced its earnings results on Wednesday, August 7th. The company reported ($1.06) earnings per share for the quarter, topping the consensus estimate of ($1.60) by $0.54. The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.10 million. Clene had a negative net margin of 6,890.50% and a negative return on equity of 315.97%. Sell-side analysts expect that Clene will post -5.26 earnings per share for the current year.

Institutional Investors Weigh In On Clene

An institutional investor recently raised its position in Clene stock. Csenge Advisory Group lifted its stake in Clene Inc. (NASDAQ:CLNN) by 131.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 269,600 shares of the company’s stock after purchasing an additional 153,000 shares during the period. Csenge Advisory Group owned approximately 0.21% of Clene worth $96,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 23.28% of the company’s stock.

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.