Clene Inc. (NASDAQ:CLNN) Given Average Rating of “Buy” by Brokerages

Shares of Clene Inc. (NASDAQ:CLNN) have earned a consensus recommendation of “Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $40.00.

Several equities research analysts have recently commented on the company. HC Wainwright restated a “buy” rating and set a $31.00 price target on shares of Clene in a research note on Tuesday, April 8th. Jones Trading assumed coverage on shares of Clene in a research report on Wednesday, April 23rd. They set a “buy” rating and a $30.00 price objective for the company. Benchmark lowered their target price on shares of Clene from $84.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, D. Boral Capital reiterated a “buy” rating and set a $23.00 price target on shares of Clene in a research note on Thursday, May 8th.

Clene Stock Performance

Shares of NASDAQ:CLNN opened at $4.20 on Thursday. Clene has a one year low of $2.28 and a one year high of $8.60. The stock has a market capitalization of $37.73 million, a price-to-earnings ratio of -0.80 and a beta of 0.49. The company has a 50-day simple moving average of $3.05 and a 200-day simple moving average of $3.99.

Clene (NASDAQ:CLNN) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.60. Clene had a negative return on equity of 1,106.30% and a negative net margin of 8,556.77%. The firm had revenue of $0.08 million during the quarter, compared to the consensus estimate of $0.07 million. As a group, research analysts forecast that Clene will post -5.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Clene

Institutional investors and hedge funds have recently made changes to their positions in the stock. Penn Davis Mcfarland Inc. purchased a new position in Clene in the first quarter valued at about $34,000. SBI Securities Co. Ltd. purchased a new position in Clene in the 4th quarter valued at approximately $69,000. Fullcircle Wealth LLC purchased a new position in Clene in the 4th quarter valued at approximately $69,000. Renaissance Technologies LLC acquired a new position in Clene during the fourth quarter worth $96,000. Finally, Geode Capital Management LLC boosted its position 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. 23.28% of the stock is owned by institutional investors and hedge funds.

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.