HC Wainwright Reaffirms “Buy” Rating for Clene (NASDAQ:CLNN)

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They presently have a $31.00 target price on the stock.

CLNN has been the topic of several other research reports. D. Boral Capital reiterated a “buy” rating and issued a $23.00 price target on shares of Clene in a report on Wednesday. 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 note on Thursday, November 14th. Finally, Benchmark decreased their target price on shares of Clene from $90.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $55.25.

Clene Stock Performance

Shares of CLNN stock opened at $4.37 on Wednesday. Clene has a fifty-two week low of $3.82 and a fifty-two week high of $9.20. The firm has a market capitalization of $36.38 million, a PE ratio of -0.83 and a beta of 0.27. The stock’s 50-day simple moving average is $4.71 and its 200-day simple moving average is $4.99.

Hedge Funds Weigh In On Clene

Several institutional investors have recently made changes to their positions in CLNN. SBI Securities Co. Ltd. purchased a new stake in Clene during the fourth quarter worth $69,000. Fullcircle Wealth LLC purchased a new stake in shares of Clene during the 4th quarter worth about $69,000. Renaissance Technologies LLC acquired a new stake in shares of Clene during the 4th quarter valued at about $96,000. Parsons Capital Management Inc. RI purchased a new position in shares of Clene in the 4th quarter valued at about $194,000. Finally, Geode Capital Management LLC raised its holdings in Clene by 52.9% in the 4th 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. 23.28% of the stock is 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.