Clene Inc. (NASDAQ:CLNN) Stock Short Interest Report for October

Clene Inc. (NASDAQ:CLNN) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 424,864 shares, a decrease of 51.8% from the September 30th total of 880,688 shares. Based on an average daily volume of 94,981 shares, the days-to-cover ratio is presently 4.5 days. Approximately 4.6% of the shares of the stock are short sold.

Analysts Set New Price Targets

CLNN has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating on shares of Clene in a report on Monday, October 19th. Weiss Ratings cut Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Clene Price Performance

Shares of NASDAQ:CLNN traded down $0.07 during trading hours on Friday, hitting $3.83. 47,081 shares of the company’s stock traded hands, compared to its average volume of 214,337. Clene has a 1 year low of $3.02 and a 1 year high of $13.50. The firm has a market capitalization of $49.75 million, a P/E ratio of -1.09 and a beta of 0.91. The business has a fifty day moving average price of $3.96 and a 200-day moving average price of $5.17.

Clene (NASDAQ:CLNN) last announced its quarterly earnings data on Friday, August 14th. The company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.71). The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.06 million. As a group, equities analysts predict that Clene will post -1.70 earnings per share for the current year.

Clene Company Profile

Clene Inc is a clinical-stage biopharmaceutical company developing nanotherapeutic treatments for neurodegenerative diseases. The company’s lead product candidate, CNM-Au8, is an investigational oral suspension containing catalytically active gold nanocrystals designed to support cellular energy production and reduce oxidative stress, with the goal of protecting and improving the function of nerve cells.

Clene has studied CNM-Au8 in conditions including amyotrophic lateral sclerosis (ALS) and multiple sclerosis (MS), and has also investigated its potential applications in other neurodegenerative disorders.