Short Interest in Clene Inc. (NASDAQ:CLNN) Decreases By 24.8%

Clene Inc. (NASDAQ:CLNN) saw a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 86,500 shares, a decrease of 24.8% from the February 28th total of 115,100 shares. Based on an average daily volume of 55,200 shares, the short-interest ratio is presently 1.6 days. Currently, 1.6% of the company’s shares are sold short.

Institutional Investors Weigh In On Clene

Large investors have recently modified their holdings of the business. Parsons Capital Management Inc. RI bought a new stake in Clene during the 4th quarter worth approximately $194,000. Geode Capital Management LLC boosted its holdings in shares of Clene by 52.9% in the fourth quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock valued at $346,000 after buying an additional 22,539 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Clene during the fourth quarter worth $96,000. SBI Securities Co. Ltd. acquired a new stake in shares of Clene during the fourth quarter worth $69,000. Finally, Fullcircle Wealth LLC bought a new stake in Clene in the 4th quarter valued at $69,000. 23.28% of the stock is currently owned by institutional investors.

Clene Stock Performance

Shares of NASDAQ CLNN opened at $3.22 on Friday. Clene has a 52-week low of $3.09 and a 52-week high of $9.20. The stock has a market cap of $26.81 million, a P/E ratio of -0.61 and a beta of 0.27. The firm has a 50 day moving average price of $4.43 and a 200 day moving average price of $4.84.

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

Analyst Ratings Changes

CLNN has been the subject of several analyst reports. D. Boral Capital reiterated a “buy” rating and set a $23.00 price target on shares of Clene in a research report on Monday, March 24th. HC Wainwright reaffirmed a “buy” rating and set a $31.00 target price on shares of Clene in a report on Monday, March 24th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Clene currently has a consensus rating of “Buy” and a consensus price target 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.