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

D. Boral Capital reaffirmed their buy rating on shares of Clene (NASDAQ:CLNN) in a research note released on Monday morning,Benzinga reports. They currently have a $23.00 price objective on the stock.

Separately, HC Wainwright reissued a “buy” rating and set a $31.00 price objective on shares of Clene in a research note on Wednesday, March 12th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $55.25.

Clene Trading Down 5.3 %

NASDAQ:CLNN opened at $3.92 on Monday. Clene has a twelve month low of $3.82 and a twelve month high of $9.20. The firm has a 50-day moving average price of $4.55 and a two-hundred day moving average price of $4.91. The company has a market capitalization of $32.64 million, a P/E ratio of -0.74 and a beta of 0.27.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Fullcircle Wealth LLC acquired a new stake in shares of Clene during the 4th quarter valued at approximately $69,000. Renaissance Technologies LLC acquired a new stake in shares of Clene during the fourth quarter worth $96,000. Geode Capital Management LLC raised its holdings 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 purchasing an additional 22,539 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Clene in the 4th quarter worth about $69,000. Finally, Parsons Capital Management Inc. RI acquired a new position in shares of Clene in the 4th quarter valued at about $194,000. Institutional investors and hedge funds own 23.28% of the company’s stock.

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.