Clene (NASDAQ:CLNN) Earns “Buy” Rating from D. Boral Capital

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reissued by analysts at D. Boral Capital in a report released on Thursday,Benzinga reports. They presently have a $23.00 price objective on the stock. D. Boral Capital’s price target would indicate a potential upside of 396.76% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Benchmark lowered their price objective on Clene from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Canaccord Genuity Group decreased their price target on shares of Clene from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $31.00 price target on shares of Clene in a report on Thursday, November 14th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $55.25.

Clene Price Performance

Shares of CLNN stock opened at $4.63 on Thursday. The company’s fifty day moving average price is $4.78 and its two-hundred day moving average price is $5.05. The firm has a market capitalization of $38.20 million, a P/E ratio of -0.88 and a beta of 0.24. Clene has a 12 month low of $3.82 and a 12 month high of $10.65.

Institutional Trading of Clene

Institutional investors have recently added to or reduced their stakes in the business. Castleview Partners LLC acquired a new position in shares of Clene during the third quarter worth approximately $59,000. SBI Securities Co. Ltd. acquired a new position in Clene during the 4th quarter worth $69,000. Finally, Parsons Capital Management Inc. RI bought a new position in shares of Clene in the fourth quarter worth $194,000. 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.