Clene’s (CLNN) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Clene (NASDAQ:CLNN) in a research report released on Wednesday, Benzinga reports. The firm currently has a $7.00 price target on the stock.

Separately, Benchmark restated a buy rating and set a $5.00 price target on shares of Clene in a research note on Wednesday, March 20th.

Clene Trading Up 9.5 %

NASDAQ:CLNN opened at $0.34 on Wednesday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.53. The company has a 50 day simple moving average of $0.42 and a two-hundred day simple moving average of $0.43. Clene has a 12 month low of $0.25 and a 12 month high of $1.09.

Clene (NASDAQ:CLNN) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $0.17 million for the quarter, compared to the consensus estimate of $0.14 million. Clene had a negative return on equity of 253.48% and a negative net margin of 7,569.42%. Sell-side analysts expect that Clene will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clene

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC bought a new stake in Clene during the second quarter valued at about $29,000. Goldman Sachs Group Inc. bought a new position in shares of Clene during the 1st quarter valued at approximately $70,000. UBS Group AG increased its holdings in Clene by 113.0% in the 2nd quarter. UBS Group AG now owns 22,411 shares of the company’s stock worth $56,000 after acquiring an additional 11,887 shares in the last quarter. Charles Schwab Investment Management Inc. bought a new stake in Clene during the 1st quarter worth approximately $29,000. Finally, Two Sigma Investments LP purchased a new position in Clene during the third quarter valued at approximately $94,000. 23.28% of the stock is currently owned by hedge funds and other institutional investors.

About Clene

Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. Its lead drug 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.