Clene (NASDAQ:CLNN) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Clene (NASDAQ:CLNN) in a research note released on Wednesday,Benzinga reports. The firm currently has a $31.00 price target on the stock.

Other analysts have also issued research reports about the company. D. Boral Capital restated a “buy” rating and set a $23.00 price target on shares of Clene in a report on Wednesday. Benchmark reduced their target price on Clene from $90.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, Canaccord Genuity Group reduced their target price on Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Clene presently has an average rating of “Buy” and a consensus target price of $55.25.

Clene Stock Performance

NASDAQ:CLNN opened at $4.40 on Wednesday. The stock’s fifty day moving average is $4.71 and its 200 day moving average is $4.99. Clene has a fifty-two week low of $3.82 and a fifty-two week high of $9.76. The firm has a market capitalization of $36.63 million, a PE ratio of -0.83 and a beta of 0.27.

Institutional Trading of Clene

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fullcircle Wealth LLC purchased a new position in shares of Clene during the fourth quarter valued at $69,000. SBI Securities Co. Ltd. purchased a new position in shares of Clene during the fourth quarter valued at $69,000. Renaissance Technologies LLC purchased a new position in shares of Clene during the fourth quarter valued at $96,000. Parsons Capital Management Inc. RI purchased a new position in shares of Clene during the fourth quarter valued at $194,000. Finally, Geode Capital Management LLC increased its stake in shares of Clene by 52.9% during 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. Hedge funds and other institutional investors own 23.28% of the company’s stock.

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.