Benchmark Cuts Clene (NASDAQ:CLNN) Price Target to $33.00

Clene (NASDAQ:CLNN) had its price target lowered by Benchmark from $84.00 to $33.00 in a research note released on Thursday,Benzinga reports. Benchmark currently has a buy rating on the stock.

Several other equities research analysts have also commented on the stock. D. Boral Capital reaffirmed a “buy” rating and issued a $23.00 price target on shares of Clene in a report on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $31.00 target price on shares of Clene in a report on Tuesday, April 8th. Finally, Jones Trading initiated coverage on Clene in a report on Wednesday, April 23rd. They issued a “buy” rating and a $30.00 price target for the company. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Clene currently has a consensus rating of “Buy” and an average target price of $40.00.

Clene Stock Up 1.9 %

Shares of Clene stock opened at $2.63 on Thursday. The company has a 50 day moving average price of $3.37 and a 200 day moving average price of $4.32. The firm has a market capitalization of $23.63 million, a P/E ratio of -0.50 and a beta of 0.46. Clene has a 52 week low of $2.55 and a 52 week high of $9.20.

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

Institutional Trading of Clene

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

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.