HC Wainwright Reaffirms “Buy” Rating for Clene (NASDAQ:CLNN)

HC Wainwright reiterated their buy rating on shares of Clene (NASDAQ:CLNN) in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a $7.00 price objective on the stock.

Separately, Benchmark restated a buy rating and issued a $5.00 price objective on shares of Clene in a research report on Wednesday, March 20th.

Clene Stock Up 9.5 %

CLNN opened at $0.34 on Wednesday. The firm has a 50 day moving average of $0.42 and a two-hundred day moving average of $0.43. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.53 and a quick ratio of 1.53. Clene has a 12-month low of $0.25 and a 12-month high of $1.09.

Clene (NASDAQ:CLNN) last issued its quarterly earnings data on Wednesday, March 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. Clene had a negative return on equity of 253.48% and a negative net margin of 7,569.42%. The business had revenue of $0.17 million during the quarter, compared to analysts’ expectations of $0.14 million. On average, equities research analysts expect that Clene will post -0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. AE Wealth Management LLC grew its position in shares of Clene by 208.5% during the 3rd quarter. AE Wealth Management LLC now owns 172,528 shares of the company’s stock valued at $86,000 after acquiring an additional 116,600 shares during the period. Silverarc Capital Management LLC boosted its position in Clene by 100.0% during the third quarter. Silverarc Capital Management LLC now owns 500,000 shares of the company’s stock worth $248,000 after purchasing an additional 250,000 shares in the last quarter. Csenge Advisory Group acquired a new stake in Clene in the third quarter valued at approximately $58,000. Two Sigma Securities LLC purchased a new stake in shares of Clene in the first quarter valued at approximately $101,000. Finally, Two Sigma Investments LP acquired a new position in shares of Clene during the 3rd quarter worth approximately $94,000. Institutional investors and hedge funds own 23.28% of the company’s stock.

About Clene

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 completed Phase 2 platform trial to evaluate the safety and efficacy of CNM-Au8 in 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.