D. Boral Capital Reaffirms “Buy” Rating for Clene (NASDAQ:CLNN)

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reissued by investment analysts at D. Boral Capital in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $23.00 target price on the stock. D. Boral Capital’s price target would indicate a potential upside of 494.32% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $31.00 target price on shares of Clene in a research report on Tuesday, April 8th. Jones Trading started coverage on shares of Clene in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $30.00 price target for the company. Finally, Benchmark decreased their price objective on shares of Clene from $84.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $40.00.

Clene Trading Down 0.8%

Shares of CLNN traded down $0.03 during trading hours on Friday, reaching $3.87. The company had a trading volume of 2,250 shares, compared to its average volume of 88,921. The firm has a 50 day simple moving average of $3.59 and a 200-day simple moving average of $3.89. The company has a market capitalization of $32.00 million, a price-to-earnings ratio of -0.97 and a beta of 0.55. Clene has a 12-month low of $2.28 and a 12-month high of $6.96.

Clene (NASDAQ:CLNN) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.60. The business had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.07 million. Sell-side analysts forecast that Clene will post -5.19 earnings per share for the current year.

Hedge Funds Weigh In On Clene

Several institutional investors and hedge funds have recently bought and sold shares of CLNN. Penn Davis Mcfarland Inc. bought a new stake in Clene during the first quarter worth approximately $34,000. Fullcircle Wealth LLC acquired a new position in shares of Clene in the fourth quarter valued at $69,000. Renaissance Technologies LLC acquired a new position in shares of Clene in the fourth quarter valued at $96,000. Finally, Geode Capital Management LLC raised its stake 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 purchasing an additional 22,539 shares in the last quarter. Hedge funds and other institutional investors own 23.28% of the company’s stock.

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.