Clene Inc. (NASDAQ:CLNN) Receives Average Rating of “Moderate Buy” from Analysts

Clene Inc. (NASDAQ:CLNN – Get Rating) has earned an average rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $9.00.

CLNN has been the subject of several research analyst reports. Cantor Fitzgerald decreased their price target on shares of Clene from $5.00 to $4.00 in a research note on Tuesday, May 16th. Roth Capital reissued a “buy” rating on shares of Clene in a report on Monday, February 6th. HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of Clene in a report on Monday, March 13th. EF Hutton Acquisition Co. I reissued a “buy” rating and set a $13.00 price objective on shares of Clene in a report on Thursday, March 23rd. Finally, Benchmark cut their price objective on shares of Clene from $11.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, April 10th.

Clene Stock Up 1.1 %

Shares of NASDAQ CLNN opened at $0.93 on Monday. The firm has a 50-day simple moving average of $1.06 and a two-hundred day simple moving average of $1.14. The company has a debt-to-equity ratio of 5.96, a current ratio of 1.47 and a quick ratio of 2.10. Clene has a 1 year low of $0.85 and a 1 year high of $5.13. The company has a market cap of $72.88 million, a P/E ratio of -2.38 and a beta of 0.37.

Institutional Investors Weigh In On Clene

A number of large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its holdings in shares of Clene by 46.2% during the second quarter. Goldman Sachs Group Inc. now owns 26,145 shares of the company’s stock valued at $66,000 after buying an additional 8,262 shares during the last quarter. Geode Capital Management LLC lifted its position in Clene by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 230,805 shares of the company’s stock valued at $230,000 after purchasing an additional 9,614 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Clene during the second quarter valued at $29,000. UBS Group AG lifted its position in Clene by 113.0% during 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 during the period. Finally, State Street Corp lifted its position in Clene by 2.3% during the first quarter. State Street Corp now owns 903,885 shares of the company’s stock valued at $3,561,000 after purchasing an additional 20,627 shares during the period. 5.86% of the stock is owned by hedge funds and other 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.