Brokerages Set Clene Inc. (NASDAQ:CLNN) Target Price at $40.00

Clene Inc. (NASDAQ:CLNN) has earned a consensus rating of “Buy” from the six ratings firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $40.00.

A number of analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $31.00 price target on shares of Clene in a report on Tuesday, April 8th. Benchmark lowered their price objective on shares of Clene from $84.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. D. Boral Capital reiterated a “buy” rating and set a $23.00 price objective on shares of Clene in a research report on Thursday, May 8th. Finally, Jones Trading assumed coverage on shares of Clene in a research report on Wednesday, April 23rd. They set a “buy” rating and a $30.00 price objective for the company.

Hedge Funds Weigh In On Clene

Several large investors have recently bought and sold shares of CLNN. Parsons Capital Management Inc. RI acquired a new position in Clene in the 4th quarter valued at approximately $194,000. SBI Securities Co. Ltd. acquired a new position in Clene in the 4th quarter valued at approximately $69,000. Geode Capital Management LLC increased its position in Clene by 52.9% in the 4th quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock valued at $346,000 after acquiring an additional 22,539 shares during the period. Renaissance Technologies LLC acquired a new position in Clene in the 4th quarter valued at approximately $96,000. Finally, Fullcircle Wealth LLC acquired a new position in Clene in the 4th quarter valued at approximately $69,000. 23.28% of the stock is currently owned by institutional investors.

Clene Trading Down 1.1%

Shares of Clene stock opened at $2.60 on Friday. The company has a 50 day moving average of $3.11 and a 200-day moving average of $4.16. Clene has a 1-year low of $2.52 and a 1-year high of $9.20. The company has a market cap of $23.36 million, a PE ratio of -0.49 and a beta of 0.46.

Clene (NASDAQ:CLNN) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.60. Clene had a negative net margin of 8,556.77% and a negative return on equity of 1,106.30%. The company had revenue of $0.08 million during the quarter, compared to the consensus estimate of $0.07 million. Research analysts forecast that Clene will post -5.19 earnings per share for the current year.

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 candidate 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.