Clene (NASDAQ:CLNN) Earns Buy Rating from Analysts at EF Hutton Acquisition Co. I

Equities research analysts at EF Hutton Acquisition Co. I assumed coverage on shares of Clene (NASDAQ:CLNN – Get Rating) in a research report issued on Wednesday, Benzinga reports. The brokerage set a “buy” rating and a $13.00 price target on the stock.

Several other research analysts have also issued reports on CLNN. HC Wainwright restated a “buy” rating and issued a $15.00 price target on shares of Clene in a research report on Tuesday. Roth Capital reiterated a “buy” rating on shares of Clene in a report on Monday, February 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Clene Stock Up 3.8 %

NASDAQ:CLNN opened at $1.35 on Wednesday. Clene has a 12-month low of $0.87 and a 12-month high of $5.13. The firm has a market capitalization of $99.66 million, a P/E ratio of -3.55 and a beta of 0.39. The stock’s fifty day simple moving average is $1.31 and its 200-day simple moving average is $1.59.

Institutional Trading of Clene

A number of institutional investors have recently modified their holdings of CLNN. Cubist Systematic Strategies LLC bought a new stake in shares of Clene in the second quarter valued at about $29,000. UBS Group AG lifted its holdings in shares of Clene by 113.0% in the second quarter. UBS Group AG now owns 22,411 shares of the company’s stock valued at $56,000 after purchasing an additional 11,887 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Clene by 46.2% in the second quarter. Goldman Sachs Group Inc. now owns 26,145 shares of the company’s stock valued at $66,000 after purchasing an additional 8,262 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Clene by 27.2% in the second quarter. Oppenheimer & Co. Inc. now owns 32,026 shares of the company’s stock valued at $81,000 after acquiring an additional 6,852 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of Clene in the third quarter valued at about $94,000. 5.86% of the stock is currently owned by institutional investors.

Clene Company Profile

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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 Phase 2/3 registrational clinical trial for 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; ongoing Phase 2 clinical trial for the treatment of visual pathway deficits in chronic optic neuropathy for remyelination in stable relapsing Multiple Sclerosis; and a planned Phase 2 clinical trial for the treatment of patients with Parkinson's Diseases.