D. Boral Capital Reaffirms Buy Rating for Clene (NASDAQ:CLNN)

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reiterated by investment analysts at D. Boral Capital in a research note issued to investors on Monday,Benzinga reports. They currently have a $23.00 target price on the stock. D. Boral Capital’s price objective would indicate a potential upside of 168.69% from the company’s current price.

Several other equities analysts have also recently commented on the stock. Benchmark cut their target price on shares of Clene from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. Canaccord Genuity Group dropped their price objective on shares of Clene from $83.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, August 18th. Wall Street Zen cut shares of Clene from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a research report on Tuesday, October 14th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Clene currently has an average rating of “Moderate Buy” and an average price target of $32.60.

Clene Stock Down 0.6%

Shares of NASDAQ:CLNN opened at $8.56 on Monday. The company has a market cap of $88.46 million, a price-to-earnings ratio of -2.53 and a beta of 0.71. The business has a 50 day moving average price of $8.25 and a 200 day moving average price of $5.45. Clene has a twelve month low of $2.28 and a twelve month high of $13.50.

Clene (NASDAQ:CLNN) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.25). The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.06 million. Analysts anticipate that Clene will post -5.19 EPS for the current year.

Institutional Trading of Clene

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lunt Capital Management Inc. grew its stake in shares of Clene by 2.5% during the third quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock worth $315,000 after purchasing an additional 1,250 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of Clene during the 3rd quarter worth about $29,000. Jane Street Group LLC bought a new stake in shares of Clene in the 2nd quarter valued at about $47,000. Finally, Scoggin Management LP raised its position in shares of Clene by 42.8% in the 2nd quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock valued at $558,000 after acquiring an additional 42,750 shares during the period. 23.28% of the stock is owned by institutional investors.

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.