Clene Inc. (NASDAQ:CLNN) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Clene Inc. (NASDAQ:CLNN) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $32.60.

CLNN has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a research report on Tuesday, October 14th. Benchmark reduced their price target on Clene from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, September 10th. Wall Street Zen cut Clene from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 16th. Canaccord Genuity Group dropped their target price on Clene from $83.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $23.00 target price on shares of Clene in a research report on Thursday, September 25th.

Clene Price Performance

Shares of CLNN stock opened at $9.78 on Friday. The stock’s 50-day moving average is $7.86 and its 200 day moving average is $5.15. Clene has a 1-year low of $2.28 and a 1-year high of $13.50. The company has a market cap of $98.48 million, a P/E ratio of -2.60 and a beta of 0.72.

Clene (NASDAQ:CLNN) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.29). The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.06 million. On average, analysts anticipate that Clene will post -5.19 EPS for the current year.

Institutional Trading of Clene

Several large investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp acquired a new position in Clene during the 3rd quarter valued at approximately $29,000. Scoggin Management LP lifted its position in Clene by 42.8% during the 2nd quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock worth $558,000 after acquiring an additional 42,750 shares during the period. Jane Street Group LLC purchased a new stake in Clene during the 2nd quarter valued at about $47,000. Finally, Lunt Capital Management Inc. increased its holdings in shares of Clene by 71.2% in the second quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock valued at $199,000 after purchasing an additional 21,217 shares during the period. Hedge funds and other 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.