Clene (NASDAQ:CLNN) Given Sell (D-) Rating at Weiss Ratings

Weiss Ratings reiterated their sell (d-) rating on shares of Clene (NASDAQ:CLNN) in a research report report published on Tuesday morning,Weiss Ratings reports.

Several other research firms have also weighed in on CLNN. D. Boral Capital restated a “buy” rating and set a $23.00 target price on shares of Clene in a report on Thursday, September 25th. Canaccord Genuity Group reduced their target price 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 downgraded shares of Clene from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 16th. Finally, Benchmark dropped their price target on shares of Clene from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.60.

Clene Trading Up 4.1%

NASDAQ:CLNN opened at $8.59 on Tuesday. The firm has a market capitalization of $86.50 million, a price-to-earnings ratio of -2.28 and a beta of 0.62. The firm’s fifty day simple moving average is $6.11 and its 200 day simple moving average is $4.33. Clene has a twelve month low of $2.28 and a twelve month high of $11.06.

Clene (NASDAQ:CLNN) last posted its earnings results on Thursday, August 14th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.29). The company had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.06 million. On average, analysts predict that Clene will post -5.19 earnings per share for the current year.

Institutional Investors Weigh In On Clene

Several hedge funds and other institutional investors have recently modified their holdings of CLNN. Penn Davis Mcfarland Inc. bought a new stake in shares of Clene in the 1st quarter worth about $34,000. Jane Street Group LLC bought a new stake in shares of Clene in the 2nd quarter worth about $47,000. Lunt Capital Management Inc. increased its position in shares of Clene by 71.2% in the 2nd quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock worth $199,000 after purchasing an additional 21,217 shares during the last quarter. Finally, Scoggin Management LP increased 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 worth $558,000 after purchasing an additional 42,750 shares during the last quarter. 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.