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

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reissued by research analysts at D. Boral Capital in a report issued on Wednesday,Benzinga reports. They presently have a $23.00 price target on the stock. D. Boral Capital’s price objective suggests a potential upside of 426.32% from the company’s previous close.

A number of other analysts have also recently commented on CLNN. Canaccord Genuity Group reduced their target price on shares of Clene from $86.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Benchmark reduced their price objective on Clene from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, HC Wainwright reiterated a “buy” rating and set a $31.00 target price on shares of Clene in a research report on Tuesday, February 25th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Clene presently has an average rating of “Buy” and a consensus target price of $55.25.

Clene Stock Down 0.7 %

Clene stock opened at $4.37 on Wednesday. The business has a 50-day simple moving average of $4.71 and a two-hundred day simple moving average of $4.99. Clene has a 52-week low of $3.82 and a 52-week high of $9.20. The company has a market cap of $36.38 million, a P/E ratio of -0.83 and a beta of 0.27.

Institutional Trading of Clene

Several institutional investors and hedge funds have recently modified their holdings of the company. Parsons Capital Management Inc. RI purchased a new stake in Clene in the 4th quarter worth $194,000. Geode Capital Management LLC boosted its stake in shares of Clene by 52.9% in the fourth quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock worth $346,000 after acquiring an additional 22,539 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Clene during the fourth quarter worth about $96,000. SBI Securities Co. Ltd. bought a new stake in Clene during the 4th quarter valued at approximately $69,000. Finally, Fullcircle Wealth LLC purchased a new position in Clene in the 4th quarter worth approximately $69,000. 23.28% of the stock is currently owned by 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.