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

Shares of Clene Inc. (NASDAQ:CLNN) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $32.60.

Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group cut their target price on shares of Clene from $83.00 to $48.00 and set a “buy” rating for the company in a report on Monday, August 18th. Wall Street Zen lowered shares of Clene from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clene in a report on Tuesday, October 14th. D. Boral Capital reiterated a “buy” rating and set a $23.00 price target on shares of Clene in a research report on Thursday, September 25th. Finally, Benchmark cut their price objective on Clene from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th.

Institutional Trading of Clene

A number of institutional investors and hedge funds have recently modified their holdings of CLNN. Jones Financial Companies Lllp acquired a new position in shares of Clene during the 3rd quarter worth about $29,000. Scoggin Management LP boosted its stake in Clene by 42.8% during the 2nd quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock worth $558,000 after purchasing an additional 42,750 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Clene in the second quarter worth about $47,000. Finally, Lunt Capital Management Inc. boosted its position in Clene by 71.2% during the second quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock worth $199,000 after acquiring an additional 21,217 shares during the last quarter. Hedge funds and other institutional investors own 23.28% of the company’s stock.

Clene Price Performance

Shares of Clene stock opened at $9.78 on Friday. The stock has a market cap of $98.48 million, a PE ratio of -2.60 and a beta of 0.72. The firm has a fifty day moving average price of $7.86 and a 200 day moving average price of $5.15. Clene has a 1 year low of $2.28 and a 1 year high of $13.50.

Clene (NASDAQ:CLNN) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.29). The business had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.06 million. As a group, equities analysts expect that Clene will post -5.19 EPS for the current year.

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.