Clene’s (CLNN) “Buy” Rating Reiterated at D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of Clene (NASDAQ:CLNN) in a research report released on Friday morning,Benzinga reports. The brokerage currently has a $23.00 target price on the stock.

A number of other analysts have also issued reports on CLNN. Benchmark lowered their price target on Clene from $84.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, May 8th. HC Wainwright reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Clene in a research note on Tuesday, April 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 target price on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $40.00.

Clene Stock Down 2.1%

Shares of Clene stock opened at $3.82 on Friday. The stock’s 50-day simple moving average is $3.61 and its 200-day simple moving average is $3.86. Clene has a 52 week low of $2.28 and a 52 week high of $6.96. The company has a market capitalization of $31.59 million, a price-to-earnings ratio of -0.95 and a beta of 0.55.

Clene (NASDAQ:CLNN) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.60. The firm had revenue of $0.08 million during the quarter, compared to the consensus estimate of $0.07 million. On average, equities analysts expect that Clene will post -5.19 earnings per share for the current year.

Institutional Trading of Clene

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of 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 purchasing an additional 22,539 shares during the period. Fullcircle Wealth LLC acquired a new position in shares of Clene during the 4th quarter worth about $69,000. Renaissance Technologies LLC purchased a new position in Clene in the 4th quarter valued at about $96,000. Finally, Penn Davis Mcfarland Inc. acquired a new stake in Clene during the 1st quarter worth $34,000. Institutional investors and hedge funds own 23.28% 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 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.