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

D. Boral Capital reissued their buy rating on shares of Clene (NASDAQ:CLNN) in a report published on Monday morning,Benzinga reports. The firm currently has a $23.00 price objective on the stock.

A number of other equities research analysts have also issued reports on the company. Jones Trading began coverage on Clene in a research report on Wednesday, April 23rd. They issued a “buy” rating and a $30.00 price target for the company. Benchmark dropped their price target on Clene from $84.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $31.00 price objective on shares of Clene in a research report on Tuesday, April 8th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $40.00.

Clene Price Performance

CLNN stock opened at $3.95 on Monday. The business has a 50 day simple moving average of $3.39 and a 200-day simple moving average of $3.96. The firm has a market capitalization of $35.47 million, a PE ratio of -0.98 and a beta of 0.55. Clene has a 1 year low of $2.28 and a 1 year high of $7.00.

Clene (NASDAQ:CLNN) last posted its quarterly 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 company had revenue of $0.08 million during the quarter, compared to analysts’ expectations of $0.07 million. On average, equities research analysts expect that Clene will post -5.19 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Penn Davis Mcfarland Inc. purchased a new position in Clene in the first quarter worth approximately $34,000. Fullcircle Wealth LLC purchased a new position in Clene in the fourth quarter worth approximately $69,000. SBI Securities Co. Ltd. purchased a new position in Clene in the fourth quarter worth approximately $69,000. Renaissance Technologies LLC purchased a new position in shares of Clene during the fourth quarter worth $96,000. Finally, Geode Capital Management LLC boosted its position in shares of Clene by 52.9% during the fourth quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock worth $346,000 after buying an additional 22,539 shares during the period. 23.28% of the stock is currently owned by hedge funds and other 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.