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

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating restated by D. Boral Capital in a research report issued on Monday,Benzinga reports. They presently have a $23.00 price target on the stock. D. Boral Capital’s price target would indicate a potential upside of 184.55% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Canaccord Genuity Group decreased their price target on Clene from $83.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clene in a research note on Tuesday, October 14th. Benchmark cut 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. Finally, Wall Street Zen downgraded shares of Clene from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 16th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.60.

Clene Stock Performance

Shares of Clene stock opened at $8.08 on Monday. The company has a market capitalization of $83.50 million, a PE ratio of -2.38 and a beta of 0.71. The company has a 50-day simple moving average of $8.17 and a two-hundred day simple moving average of $5.37. 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 for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.25). The firm had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.06 million. On average, equities analysts predict that Clene will post -5.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Scoggin Management LP boosted its stake in shares of Clene by 75.1% in the third quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock worth $1,506,000 after buying an additional 107,250 shares during the last quarter. Lunt Capital Management Inc. increased its stake in shares of Clene by 2.5% during the third quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock worth $315,000 after purchasing an additional 1,250 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Clene in the third quarter valued at approximately $29,000. Finally, Jane Street Group LLC purchased a new position in Clene in the 2nd quarter valued at $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.