Clene (NASDAQ:CLNN) Stock Rating Reaffirmed by HC Wainwright

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

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

Clene Price Performance

Shares of NASDAQ:CLNN opened at $0.39 on Wednesday. Clene has a fifty-two week low of $0.25 and a fifty-two week high of $1.09. The firm’s 50 day moving average price is $0.40 and its 200 day moving average price is $0.41. 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 stock has a market cap of $49.70 million, a price-to-earnings ratio of -0.74 and a beta of 0.47.

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

Institutional Investors Weigh In On Clene

An institutional investor recently bought a new position in Clene stock. Csenge Advisory Group acquired a new stake in Clene Inc. (NASDAQ:CLNN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 116,600 shares of the company’s stock, valued at approximately $58,000. Csenge Advisory Group owned about 0.09% of Clene at the end of the most recent quarter. 23.28% of the stock is 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 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.