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

Clene Inc. (NASDAQ:CLNN) has received a consensus rating of “Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $7.80.

Several research analysts have recently commented on CLNN shares. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Clene in a research note on Thursday, September 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $4.00 target price on shares of Clene in a research note on Wednesday, August 16th. Finally, Roth Mkm reissued a “buy” rating and set a $10.00 target price on shares of Clene in a research note on Tuesday, August 29th.

Clene Stock Up 12.2 %

NASDAQ CLNN opened at $0.45 on Monday. The stock’s 50-day moving average price is $0.51 and its 200-day moving average price is $0.73. The company has a quick ratio of 9.30, a current ratio of 3.04 and a debt-to-equity ratio of 0.78. Clene has a 52 week low of $0.36 and a 52 week high of $1.99. The company has a market capitalization of $57.79 million, a P/E ratio of -0.98 and a beta of 0.48.

Clene (NASDAQ:CLNN) last posted its quarterly earnings data on Monday, August 14th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01. Clene had a negative return on equity of 322.31% and a negative net margin of 5,624.65%. The firm had revenue of $0.27 million for the quarter, compared to the consensus estimate of $0.13 million. On average, equities research analysts predict that Clene will post -0.44 earnings per share for the current year.

Institutional Trading of Clene

Large investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new stake in Clene in the 2nd quarter worth approximately $29,000. Goldman Sachs Group Inc. bought a new stake in Clene in the 1st quarter worth approximately $70,000. UBS Group AG increased its stake in Clene by 113.0% in the 2nd quarter. UBS Group AG now owns 22,411 shares of the company’s stock worth $56,000 after acquiring an additional 11,887 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new stake in Clene in the 1st quarter worth approximately $29,000. Finally, Two Sigma Investments LP purchased a new position in shares of Clene in the 3rd quarter worth approximately $94,000. 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.