Clene (NASDAQ:CLNN) Earns Buy Rating from D. Boral Capital

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating restated by investment analysts at D. Boral Capital in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $23.00 target price on the stock. D. Boral Capital’s target price points to a potential upside of 438.64% from the company’s previous close.

A number of other brokerages have also recently commented on CLNN. Benchmark lowered their target price on 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 lowered their target price on Clene from $86.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, HC Wainwright restated a “buy” rating and set a $31.00 target price on shares of Clene in a report on Thursday, November 14th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $55.25.

Clene Stock Performance

NASDAQ CLNN opened at $4.27 on Tuesday. The stock has a market cap of $35.55 million, a PE ratio of -0.81 and a beta of 0.24. Clene has a twelve month low of $3.82 and a twelve month high of $10.40. The stock has a fifty day simple moving average of $4.81 and a 200-day simple moving average of $5.04.

Institutional Trading of Clene

A number of institutional investors have recently modified their holdings of CLNN. Fullcircle Wealth LLC acquired a new position in Clene during the fourth quarter worth $69,000. SBI Securities Co. Ltd. acquired a new position in Clene during the fourth quarter worth $69,000. Renaissance Technologies LLC acquired a new position in Clene during the fourth quarter worth $96,000. Parsons Capital Management Inc. RI acquired a new position in Clene during the fourth quarter worth $194,000. Finally, Geode Capital Management LLC raised its holdings in 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 last quarter. 23.28% of the stock is currently owned by hedge funds and other 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.