Clene Inc. (NASDAQ:CLNN) Short Interest Up 10.3% in January

Clene Inc. (NASDAQ:CLNN) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 129,000 shares, an increase of 10.3% from the January 15th total of 117,000 shares. Based on an average daily trading volume, of 80,600 shares, the days-to-cover ratio is currently 1.6 days. Currently, 2.4% of the company’s shares are short sold.

Clene Trading Up 5.5 %

Clene stock opened at $4.81 on Tuesday. The firm has a market capitalization of $40.07 million, a price-to-earnings ratio of -0.91 and a beta of 0.24. The firm’s fifty day moving average price is $4.84 and its two-hundred day moving average price is $5.06. Clene has a 1-year low of $3.82 and a 1-year high of $10.40.

Hedge Funds Weigh In On Clene

Several large investors have recently added to or reduced their stakes in the business. Castleview Partners LLC purchased a new stake in shares of Clene in the third quarter worth approximately $59,000. SBI Securities Co. Ltd. bought a new stake in Clene during the fourth quarter worth $69,000. Fullcircle Wealth LLC bought a new stake in Clene during the fourth quarter worth $69,000. Renaissance Technologies LLC purchased a new stake in Clene in the 4th quarter valued at $96,000. Finally, Parsons Capital Management Inc. RI bought a new position in Clene during the 4th quarter valued at $194,000. Institutional investors own 23.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CLNN. Benchmark reduced their price target on shares of Clene from $90.00 to $84.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Canaccord Genuity Group cut their price objective on shares of Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. D. Boral Capital reaffirmed a “buy” rating and issued a $23.00 target price on shares of Clene in a research report on Thursday, February 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $31.00 price target on shares of Clene in a research note on Thursday, November 14th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $55.25.

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.