Clene Inc. (NASDAQ:CLNN) Receives $40.00 Consensus Price Target from Brokerages

Shares of Clene Inc. (NASDAQ:CLNN) have earned a consensus rating of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $40.00.

CLNN has been the subject of several research reports. Jones Trading initiated coverage on Clene in a report on Wednesday, April 23rd. They set a “buy” rating and a $30.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $31.00 price objective on shares of Clene in a report on Tuesday, April 8th. Benchmark reduced their price objective on Clene from $84.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Finally, D. Boral Capital reissued a “buy” rating and set a $23.00 price objective on shares of Clene in a report on Thursday, May 8th.

Hedge Funds Weigh In On Clene

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of Clene by 52.9% in the fourth quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock worth $346,000 after acquiring an additional 22,539 shares during the period. Fullcircle Wealth LLC bought a new position in shares of Clene in the fourth quarter worth $69,000. Renaissance Technologies LLC bought a new position in shares of Clene in the fourth quarter worth $96,000. SBI Securities Co. Ltd. bought a new position in shares of Clene in the fourth quarter worth $69,000. Finally, Penn Davis Mcfarland Inc. bought a new position in shares of Clene in the first quarter worth $34,000. 23.28% of the stock is owned by institutional investors.

Clene Trading Up 7.8%

Shares of CLNN opened at $4.42 on Thursday. The company has a market capitalization of $39.70 million, a price-to-earnings ratio of -0.84 and a beta of 0.49. The stock has a 50 day moving average of $3.13 and a 200 day moving average of $3.99. Clene has a 12 month low of $2.28 and a 12 month high of $8.40.

Clene (NASDAQ:CLNN) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.60. The company had revenue of $0.08 million during the quarter, compared to the consensus estimate of $0.07 million. Clene had a negative return on equity of 1,106.30% and a negative net margin of 8,556.77%. As a group, equities research analysts predict that Clene will post -5.19 earnings per share for the current year.

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.