Clene Inc. (NASDAQ:CLNN – Get Free Report) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 410,400 shares, a decline of 28.4% from the August 15th total of 572,800 shares. Based on an average trading volume of 583,800 shares, the short-interest ratio is presently 0.7 days.
Clene Stock Performance
Shares of NASDAQ:CLNN opened at $0.54 on Friday. Clene has a 1 year low of $0.52 and a 1 year high of $3.23. The company has a debt-to-equity ratio of 1.20, a current ratio of 9.31 and a quick ratio of 9.30. The stock has a market capitalization of $69.34 million, a price-to-earnings ratio of -0.89 and a beta of 0.33. The company’s 50 day simple moving average is $0.72 and its 200 day simple moving average is $0.92.
Clene (NASDAQ:CLNN – Get Free Report) last issued its quarterly earnings results on Monday, August 14th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. The company had revenue of $0.27 million for 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%. As a group, research analysts predict that Clene will post -0.59 EPS for the current fiscal year.
Insider Buying and Selling at Clene
Institutional Investors Weigh In On Clene
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. bought a new stake in shares of Clene during the first quarter worth about $29,000. Cubist Systematic Strategies LLC bought a new stake in shares of Clene during the second quarter worth about $29,000. AE Wealth Management LLC bought a new stake in shares of Clene during the second quarter worth about $49,000. Impact Partnership Wealth LLC bought a new stake in shares of Clene during the second quarter worth about $49,000. Finally, UBS Group AG increased its position in shares of Clene by 113.0% during the second quarter. UBS Group AG now owns 22,411 shares of the company’s stock worth $56,000 after acquiring an additional 11,887 shares in the last quarter. 3.87% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently commented on CLNN. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Clene in a research report on Tuesday, August 29th. 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 research report on Friday, June 30th. Roth Mkm reiterated a “buy” rating and set a $10.00 target price on shares of Clene in a report on Tuesday, August 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $4.00 target price on shares of Clene in a report on Wednesday, August 16th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.50.
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.
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