Clene Inc. (NASDAQ:CLNN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Clene Inc. (NASDAQ:CLNN) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $34.00.

A number of analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 25th. HC Wainwright reaffirmed a “buy” rating on shares of Clene in a research report on Monday, August 17th.

Institutional Investors Weigh In On Clene

A hedge fund recently bought a new position in Clene stock. PEAK6 LLC acquired a new position in shares of Clene Inc. (NASDAQ:CLNN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 50,012 shares of the company’s stock, valued at approximately $294,000. PEAK6 LLC owned approximately 0.46% of Clene at the end of the most recent quarter. 23.28% of the stock is currently owned by institutional investors.

Clene Stock Performance

Shares of CLNN stock opened at $4.08 on Wednesday. The company has a market capitalization of $53.00 million, a price-to-earnings ratio of -1.17 and a beta of 0.91. Clene has a 1-year low of $3.25 and a 1-year high of $13.50. The stock’s fifty day simple moving average is $4.35 and its 200-day simple moving average is $5.46.

Clene (NASDAQ:CLNN) last announced its quarterly earnings data on Friday, August 14th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.71). The company had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.06 million. On average, sell-side analysts predict that Clene will post -1.7 EPS for the current year.

Clene Company Profile

Clene Inc (NASDAQ: CLNN) is a clinical-stage biopharmaceutical company focused on developing nanotherapeutics for neurodegenerative diseases. The company’s platform uses nanocrystals designed to influence cellular energy production and protect or restore the function of nerve cells.

Clene’s leading investigational product is CNM-Au8, an orally administered suspension containing catalytically active gold nanocrystals. The therapy is being evaluated in clinical studies for conditions including amyotrophic lateral sclerosis (ALS), multiple sclerosis and Parkinson’s disease.