Clene’s (CLNN) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Clene (NASDAQ:CLNN) in a research report report published on Tuesday morning, Benzinga reports. HC Wainwright currently has a $7.00 target price on the stock.

A number of other analysts have also weighed in on the stock. Roth Mkm reiterated a buy rating and set a $10.00 target price on shares of Clene in a report on Tuesday. Cantor Fitzgerald reiterated an overweight rating and set a $4.00 target price on shares of Clene in a report on Wednesday, August 16th. Finally, Benchmark lowered their price objective on shares of Clene from $7.00 to $5.00 and set a buy rating for the company in a report on Friday, June 30th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $7.50.

Clene Trading Up 1.2 %

NASDAQ:CLNN opened at $0.71 on Tuesday. Clene has a 12 month low of $0.63 and a 12 month high of $3.30. The stock has a market capitalization of $90.52 million, a PE ratio of -1.16 and a beta of 0.32. The company has a current ratio of 9.31, a quick ratio of 9.30 and a debt-to-equity ratio of 1.20. The firm’s 50 day moving average is $0.77 and its 200 day moving average is $0.97.

Clene (NASDAQ:CLNN) last released its quarterly earnings results on Monday, August 14th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The firm had revenue of $0.27 million during the quarter, compared to analyst estimates of $0.13 million. Clene had a negative net margin of 6,242.73% and a negative return on equity of 1,234.32%. Sell-side analysts expect that Clene will post -0.59 earnings per share for the current year.

Insider Activity at Clene

In other news, Director David J. Matlin purchased 1,500,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were bought at an average cost of $0.80 per share, for a total transaction of $1,200,000.00. Following the acquisition, the director now owns 6,793,684 shares of the company’s stock, valued at approximately $5,434,947.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John Henry Stevens acquired 316,455 shares of the stock in a transaction on Monday, June 26th. The stock was bought at an average cost of $0.80 per share, with a total value of $253,164.00. Following the transaction, the director now directly owns 800,204 shares in the company, valued at $640,163.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David J. Matlin purchased 1,500,000 shares of the stock in a transaction dated Friday, June 16th. The stock was acquired at an average cost of $0.80 per share, with a total value of $1,200,000.00. Following the transaction, the director now directly owns 6,793,684 shares in the company, valued at approximately $5,434,947.20. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,841,455 shares of company stock worth $1,473,414. Insiders own 26.60% of the company’s stock.

Institutional Investors Weigh In On Clene

A number of hedge funds and other institutional investors have recently bought and sold shares of CLNN. AWM Investment Company Inc. acquired a new stake in shares of Clene in the second quarter worth $4,400,000. Worth Venture Partners LLC purchased a new position in shares of Clene in the second quarter worth about $1,305,000. Hudson Bay Capital Management LP purchased a new position in shares of Clene in the second quarter worth about $1,213,000. Silverarc Capital Management LLC purchased a new position in shares of Clene in the second quarter worth about $220,000. Finally, Millennium Management LLC acquired a new stake in Clene during the second quarter worth about $620,000. Hedge funds and other institutional investors own 3.87% of the company’s stock.

Clene Company Profile

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; 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.