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

Shares of Clene Inc. (NASDAQ:CLNN – Get Rating) have been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $13.75.

A number of equities research analysts recently issued reports on CLNN shares. Zacks Investment Research raised shares of Clene from a “sell” rating to a “hold” rating in a report on Friday, May 13th. Canaccord Genuity Group started coverage on shares of Clene in a report on Monday, May 2nd. They issued a “buy” rating and a $10.00 price objective for the company. Canaccord Genuity Group started coverage on shares of Clene in a report on Monday, May 2nd. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Roth Capital reissued a “buy” rating on shares of Clene in a report on Monday, February 14th.

In related news, Director David J. Matlin purchased 20,000 shares of the company’s stock in a transaction on Wednesday, March 23rd. The shares were bought at an average cost of $2.94 per share, for a total transaction of $58,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David J. Matlin bought 35,000 shares of the stock in a transaction dated Monday, March 21st. The shares were acquired at an average price of $2.90 per share, for a total transaction of $101,500.00. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 227,891 shares of company stock worth $667,902. 28.70% of the stock is owned by corporate insiders.

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

Shares of Clene stock traded up $0.01 during trading hours on Friday, reaching $2.21. 3,495 shares of the company’s stock were exchanged, compared to its average volume of 115,839. Clene has a 1 year low of $1.93 and a 1 year high of $17.82. The company has a market capitalization of $139.80 million, a P/E ratio of 9.61 and a beta of 0.37. The business has a fifty day moving average of $2.88 and a two-hundred day moving average of $3.47. The company has a quick ratio of 7.76, a current ratio of 7.77 and a debt-to-equity ratio of 9.64.

Clene (NASDAQ:CLNN – Get Rating) last released its earnings results on Friday, March 11th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). The firm had revenue of $0.20 million for the quarter, compared to analyst estimates of $0.14 million. As a group, research analysts predict that Clene will post -0.72 EPS for the current year.

About Clene (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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