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

D. Boral Capital reiterated their buy rating on shares of Clene (NASDAQ:CLNN) in a research report released on Wednesday morning,Benzinga reports. They currently have a $23.00 target price on the stock.

CLNN has been the subject of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a report on Tuesday, October 14th. UBS Group reissued a “buy” rating on shares of Clene in a research note on Wednesday. Wall Street Zen downgraded shares of Clene from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 16th. Canaccord Genuity Group lowered their target price on shares of Clene from $83.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Finally, Benchmark cut their price target on Clene from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.60.

Clene Stock Performance

Shares of Clene stock opened at $7.22 on Wednesday. The stock has a market cap of $74.58 million, a P/E ratio of -2.13 and a beta of 0.79. The stock’s fifty day moving average is $8.91 and its 200 day moving average is $5.94. Clene has a one year low of $2.28 and a one year high of $13.50.

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

Institutional Trading of Clene

Several hedge funds have recently bought and sold shares of the stock. Scoggin Management LP grew its position in shares of Clene by 75.1% during the third quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock valued at $1,506,000 after purchasing an additional 107,250 shares in the last quarter. Lunt Capital Management Inc. lifted its position in shares of Clene by 2.5% in the third quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock worth $315,000 after buying an additional 1,250 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Clene during the third quarter valued at approximately $29,000. Finally, Jane Street Group LLC purchased a new position in Clene during the 2nd quarter valued at approximately $47,000. Hedge funds and other institutional investors 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 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.