Clene (NASDAQ:CLNN) Stock Rating Reaffirmed by Benchmark

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating restated by equities researchers at Benchmark in a report issued on Thursday, Benzinga reports. They presently have a $5.00 price target on the stock.

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

Clene Stock Performance

NASDAQ CLNN opened at $0.35 on Thursday. Clene has a fifty-two week low of $0.25 and a fifty-two week high of $1.09. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.22 and a current ratio of 1.23. The stock has a 50 day simple moving average of $0.39 and a two-hundred day simple moving average of $0.41. The stock has a market cap of $45.08 million, a P/E ratio of -0.76 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 for the quarter, topping the consensus estimate of ($0.07) by $0.01. Clene had a negative return on equity of 224.28% and a negative net margin of 7,873.23%. The business had revenue of $0.17 million during the quarter, compared to analysts’ expectations of $0.14 million. On average, analysts forecast that Clene will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Clene stock. Silverarc Capital Management LLC boosted its stake in shares of Clene Inc. (NASDAQ:CLNN) by 100.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 500,000 shares of the company’s stock after buying an additional 250,000 shares during the period. Silverarc Capital Management LLC owned approximately 0.39% of Clene worth $248,000 at the end of the most recent reporting period. 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.