Clene (NASDAQ:CLNN) Given “Buy” Rating at Benchmark

Benchmark reissued their buy rating on shares of Clene (NASDAQ:CLNN) in a research note issued to investors on Thursday, Benzinga reports. Benchmark currently has a $5.00 price objective on the stock.

Separately, HC Wainwright restated a buy rating and issued a $7.00 price target on shares of Clene in a research report on Wednesday, May 8th.

Clene Price Performance

NASDAQ:CLNN opened at $0.35 on Thursday. Clene has a 1 year low of $0.25 and a 1 year high of $1.09. The firm’s fifty day simple moving average is $0.39 and its 200 day simple moving average is $0.41. The company has a current ratio of 1.23, a quick ratio of 1.22 and a debt-to-equity ratio of 1.66.

Clene (NASDAQ:CLNN) last posted its earnings results on Wednesday, March 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.14 million. Clene had a negative net margin of 7,873.23% and a negative return on equity of 224.28%. As a group, sell-side analysts expect that Clene will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Clene

A hedge fund recently raised its stake in Clene stock. Silverarc Capital Management LLC lifted its holdings in shares of Clene Inc. (NASDAQ:CLNN) by 100.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 500,000 shares of the company’s stock after acquiring an additional 250,000 shares during the period. Silverarc Capital Management LLC owned approximately 0.39% of Clene worth $248,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors 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.