Clene Inc. (NASDAQ:CLNN) Receives $40.00 Average PT from Analysts

Shares of Clene Inc. (NASDAQ:CLNN) have received an average recommendation of “Buy” from the six brokerages that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $40.00.

A number of equities analysts have commented on CLNN shares. D. Boral Capital restated a “buy” rating and issued a $23.00 target price on shares of Clene in a research note on Thursday, May 8th. Jones Trading initiated coverage on Clene in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $30.00 price objective on the stock. Benchmark reduced their price objective on Clene from $84.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $31.00 target price on shares of Clene in a report on Tuesday, April 8th.

Clene Stock Performance

NASDAQ:CLNN opened at $4.37 on Thursday. The firm has a market capitalization of $39.24 million, a PE ratio of -1.08 and a beta of 0.49. The stock’s fifty day moving average is $3.19 and its 200 day moving average is $3.99. Clene has a fifty-two week low of $2.28 and a fifty-two week high of $8.20.

Clene (NASDAQ:CLNN) last issued its earnings results on Wednesday, May 7th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.60. The firm had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.07 million. Clene had a negative net margin of 8,306.00% and a negative return on equity of 1,106.30%. Equities analysts forecast that Clene will post -5.19 EPS for the current year.

Hedge Funds Weigh In On Clene

A number of large investors have recently bought and sold shares of CLNN. Geode Capital Management LLC boosted its stake in Clene by 52.9% in the fourth 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 in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Clene during the 4th quarter valued at $96,000. SBI Securities Co. Ltd. purchased a new stake in shares of Clene during the 4th quarter valued at $69,000. Fullcircle Wealth LLC acquired a new stake in shares of Clene in the 4th quarter worth $69,000. Finally, Penn Davis Mcfarland Inc. purchased a new position in Clene during the 1st quarter worth $34,000. Institutional investors 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.