Clene (NASDAQ:CLNN) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Clene (NASDAQ:CLNN) in a research note released on Monday,Benzinga reports. The brokerage currently has a $31.00 price target on the stock.

Separately, D. Boral Capital reissued a “buy” rating and issued a $23.00 price target on shares of Clene in a report on Monday. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Clene has a consensus rating of “Buy” and an average price target of $55.25.

Clene Stock Down 5.3 %

Shares of CLNN stock opened at $3.92 on Monday. Clene has a 52-week low of $3.82 and a 52-week high of $9.20. The stock has a market cap of $32.64 million, a PE ratio of -0.74 and a beta of 0.27. The business has a 50-day simple moving average of $4.55 and a 200-day simple moving average of $4.91.

Institutional Investors Weigh In On Clene

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

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.