Clene (NASDAQ:CLNN) Receives “Buy” Rating from HC Wainwright

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

Separately, Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Clene in a research note on Wednesday, March 20th.

Clene Stock Down 2.6 %

NASDAQ CLNN traded down $0.01 during mid-day trading on Wednesday, reaching $0.38. 305,296 shares of the company’s stock traded hands, compared to its average volume of 926,406. The company has a fifty day simple moving average of $0.40 and a 200-day simple moving average of $0.41. Clene has a 1-year low of $0.25 and a 1-year high of $1.09. The company has a market cap of $48.98 million, a price-to-earnings ratio of -0.74 and a beta of 0.47. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.53.

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

Institutional Trading of Clene

An institutional investor recently raised its position in Clene stock. Silverarc Capital Management LLC increased its position in shares of Clene Inc. (NASDAQ:CLNN) by 100.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,000 shares of the company’s stock after purchasing an additional 250,000 shares during the period. Silverarc Capital Management LLC owned 0.39% of Clene worth $248,000 at the end of the most recent quarter. 23.28% of the stock is currently 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.