HC Wainwright Reiterates Buy Rating for Clene (NASDAQ:CLNN)

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $31.00 price target on the stock.

CLNN has been the subject of a number of other reports. Benchmark lowered their target price on shares of Clene from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Canaccord Genuity Group lowered their price objective on shares of Clene from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $23.00 target price on shares of Clene in a research report on Wednesday. Four 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, the stock presently has an average rating of “Buy” and a consensus price target of $55.25.

Clene Stock Performance

CLNN stock traded down $0.12 during midday trading on Wednesday, reaching $4.42. 47,524 shares of the company traded hands, compared to its average volume of 75,994. The firm has a market capitalization of $36.80 million, a price-to-earnings ratio of -0.84 and a beta of 0.27. The business has a 50 day moving average of $4.73 and a 200-day moving average of $5.00. Clene has a 52-week low of $3.82 and a 52-week high of $9.76.

Institutional Trading of Clene

A number of hedge funds have recently added to or reduced their stakes in the business. Fullcircle Wealth LLC bought a new stake in shares of Clene in the 4th quarter valued at about $69,000. Renaissance Technologies LLC bought a new position in shares of Clene during the fourth quarter valued at approximately $96,000. Geode Capital Management LLC raised its stake in Clene by 52.9% in the fourth quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock worth $346,000 after buying an additional 22,539 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Clene during the fourth quarter worth $69,000. Finally, Parsons Capital Management Inc. RI bought a new stake in Clene during the 4th quarter valued at $194,000. 23.28% of the stock is owned by hedge funds and other institutional investors.

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.