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

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reaffirmed by D. Boral Capital in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $23.00 price target on the stock. D. Boral Capital’s price objective points to a potential upside of 265.66% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. UBS Group reaffirmed a “buy” rating on shares of Clene in a report on Wednesday. Canaccord Genuity Group cut their price target on Clene from $83.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clene in a research report on Tuesday, October 14th. Wall Street Zen cut shares of Clene from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 16th. Finally, Benchmark dropped their target price on shares of Clene from $33.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.60.

Clene Trading Down 12.9%

Shares of CLNN opened at $6.29 on Wednesday. Clene has a twelve month low of $2.28 and a twelve month high of $13.50. The firm has a market capitalization of $64.98 million, a P/E ratio of -1.86 and a beta of 0.79. The firm’s 50-day moving average is $8.92 and its two-hundred day moving average is $5.94.

Clene (NASDAQ:CLNN) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.25). The firm had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.06 million. Analysts predict that Clene will post -5.19 EPS for the current year.

Institutional Investors Weigh In On Clene

Hedge funds and other institutional investors have recently modified their holdings of the company. Lunt Capital Management Inc. increased its holdings in Clene by 71.2% during the 2nd quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock worth $199,000 after purchasing an additional 21,217 shares during the last quarter. Scoggin Management LP boosted its stake in Clene by 75.1% during the 3rd quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock valued at $1,506,000 after purchasing an additional 107,250 shares in the last quarter. Jane Street Group LLC bought a new position in Clene during the second quarter valued at about $47,000. Finally, Jones Financial Companies Lllp acquired a new position in shares of Clene in the 3rd quarter worth approximately $29,000. 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.