Clene (NASDAQ:CLNN) Rating Reiterated by HC Wainwright

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They presently have a $7.00 target price on the stock.

Separately, Benchmark reissued a “buy” rating and issued a $5.00 price target on shares of Clene in a research report on Wednesday, March 20th.

Clene Price Performance

CLNN stock opened at $0.33 on Wednesday. The firm has a 50-day moving average of $0.41 and a two-hundred day moving average of $0.43. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $42.37 million, a PE ratio of -0.63 and a beta of 0.50. Clene has a one year low of $0.25 and a one year high of $1.09.

Clene (NASDAQ:CLNN) last posted 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 business had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.14 million. Clene had a negative net margin of 7,569.42% and a negative return on equity of 253.48%. On average, analysts forecast that Clene will post -0.33 earnings per share for the current year.

Hedge Funds Weigh In On Clene

A number of hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Clene by 23.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 164,309 shares of the company’s stock worth $648,000 after acquiring an additional 31,227 shares during the last quarter. State Street Corp grew its stake in shares of Clene by 2.3% in the first quarter. State Street Corp now owns 903,885 shares of the company’s stock worth $3,561,000 after acquiring an additional 20,627 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Clene in the first quarter worth $70,000. Bank of America Corp DE grew its stake in shares of Clene by 52.1% in the first quarter. Bank of America Corp DE now owns 63,277 shares of the company’s stock worth $249,000 after acquiring an additional 21,666 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Clene by 570.2% in the second quarter. JPMorgan Chase & Co. now owns 64,519 shares of the company’s stock worth $163,000 after acquiring an additional 54,892 shares during the last quarter. Institutional investors and hedge funds own 23.28% of the company’s stock.

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 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.