Clene Inc. (NASDAQ:CLNN) Receives Average Rating of “Buy” from Analysts

Clene Inc. (NASDAQ:CLNN – Get Rating) has earned a consensus recommendation of “Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $14.60.

CLNN has been the subject of a number of recent analyst reports. Canaccord Genuity Group initiated coverage on shares of Clene in a report on Monday. They set a “buy” rating and a $10.00 price target for the company. Roth Capital reiterated a “buy” rating on shares of Clene in a report on Monday, February 14th. Canaccord Genuity Group started coverage on shares of Clene in a report on Monday. They issued a “buy” rating and a $10.00 target price for the company. Finally, Zacks Investment Research downgraded shares of Clene from a “buy” rating to a “hold” rating in a report on Wednesday, January 12th.

In other news, Director David J. Matlin acquired 132,891 shares of the firm’s stock in a transaction dated Wednesday, April 20th. The stock was acquired at an average cost of $3.01 per share, with a total value of $400,001.91. Following the transaction, the director now owns 1,844,288 shares in the company, valued at $5,551,306.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director David J. Matlin acquired 101,352 shares of the firm’s stock in a transaction dated Tuesday, February 1st. The shares were purchased at an average cost of $2.96 per share, with a total value of $300,001.92. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 319,243 shares of company stock valued at $947,104. Insiders own 28.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley lifted its position in shares of Clene by 110.5% during the 1st quarter. Morgan Stanley now owns 2,105 shares of the company’s stock worth $27,000 after purchasing an additional 1,105 shares during the last quarter. Geode Capital Management LLC lifted its position in Clene by 0.8% in the third quarter. Geode Capital Management LLC now owns 405,737 shares of the company’s stock valued at $2,771,000 after acquiring an additional 3,342 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Clene by 6.7% in the third quarter. Bank of New York Mellon Corp now owns 61,036 shares of the company’s stock valued at $417,000 after acquiring an additional 3,808 shares during the last quarter. Bank of America Corp DE lifted its position in Clene by 7,045.1% in the second quarter. Bank of America Corp DE now owns 5,859 shares of the company’s stock valued at $66,000 after acquiring an additional 5,777 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Clene by 9,823.7% in the second quarter. Wells Fargo & Company MN now owns 13,000 shares of the company’s stock valued at $146,000 after acquiring an additional 12,869 shares during the last quarter. 23.07% of the stock is owned by institutional investors and hedge funds.

CLNN traded up $0.21 during trading on Monday, reaching $2.80. The company’s stock had a trading volume of 159 shares, compared to its average volume of 108,860. The company has a quick ratio of 9.05, a current ratio of 9.06 and a debt-to-equity ratio of 1.52. The firm has a fifty day simple moving average of $3.02 and a two-hundred day simple moving average of $3.84. Clene has a 1 year low of $2.36 and a 1 year high of $17.82. The company has a market cap of $177.09 million, a price-to-earnings ratio of -12.50 and a beta of 0.11.

Clene (NASDAQ:CLNN – Get Rating) last released its earnings results on Friday, March 11th. The company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.01). The business had revenue of $0.20 million for the quarter, compared to analyst estimates of $0.14 million. As a group, equities analysts forecast that Clene will post -0.71 EPS for the current fiscal year.

Clene Company Profile (Get Rating)

Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. Its lead drug is CNM-Au8, which is being studied in various clinical trials, including a Phase 2/3 registrational clinical trial for 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; ongoing Phase 2 clinical trial for the treatment of visual pathway deficits in chronic optic neuropathy for remyelination in stable relapsing Multiple Sclerosis; and a planned Phase 2 clinical trial for the treatment of patients with Parkinson's Diseases.

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