Clene’s (CLNN) Buy Rating Reiterated at D. Boral Capital

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reaffirmed by research analysts at D. Boral Capital in a note issued to investors on Wednesday,Benzinga reports. They currently have a $23.00 target price on the stock. D. Boral Capital’s price objective would indicate a potential upside of 426.32% from the company’s previous close.

CLNN has been the subject of several other research reports. HC Wainwright reiterated a “buy” rating and set a $31.00 price objective on shares of Clene in a research report on Tuesday, February 25th. Canaccord Genuity Group dropped their price target on Clene from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Finally, Benchmark reduced their price objective on Clene from $90.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Clene presently has a consensus rating of “Buy” and a consensus target price of $55.25.

Clene Stock Performance

NASDAQ CLNN opened at $4.37 on Wednesday. The stock has a 50 day moving average price of $4.71 and a 200-day moving average price of $4.99. Clene has a one year low of $3.82 and a one year high of $9.20. The company has a market capitalization of $36.38 million, a P/E ratio of -0.83 and a beta of 0.27.

Institutional Investors Weigh In On Clene

Several institutional investors have recently made changes to their positions in CLNN. SBI Securities Co. Ltd. bought a new position in Clene during the 4th quarter valued at about $69,000. Fullcircle Wealth LLC purchased a new position in shares of Clene during the fourth quarter valued at approximately $69,000. Renaissance Technologies LLC bought a new position in shares of Clene during the fourth quarter valued at approximately $96,000. Parsons Capital Management Inc. RI bought a new position in shares of Clene during the fourth quarter valued at approximately $194,000. Finally, Geode Capital Management LLC raised its holdings in shares of Clene by 52.9% in the fourth quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock worth $346,000 after buying an additional 22,539 shares during the period. Institutional investors own 23.28% of the company’s stock.

Clene Company Profile

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.