Clene (NASDAQ:CLNN) Raised to Hold at Wall Street Zen

Clene (NASDAQ:CLNN) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings cut Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 27th. HC Wainwright reissued a “buy” rating on shares of Clene in a research report on Monday, October 19th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Clene Stock Performance

Shares of CLNN opened at $3.95 on Friday. The company has a market cap of $56.88 million, a price-to-earnings ratio of -1.52 and a beta of 1.04. The business’s fifty day simple moving average is $3.89 and its two-hundred day simple moving average is $5.13. Clene has a 12 month low of $3.02 and a 12 month high of $10.84.

Clene (NASDAQ:CLNN) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.50. The business had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.07 million. As a group, research analysts forecast that Clene will post -1.05 EPS for the current year.

About Clene

Clene Inc is a clinical-stage biopharmaceutical company developing nanotherapeutic treatments for neurodegenerative diseases. The company’s lead product candidate, CNM-Au8, is an investigational oral suspension containing catalytically active gold nanocrystals designed to support cellular energy production and reduce oxidative stress, with the goal of protecting and improving the function of nerve cells.

Clene has studied CNM-Au8 in conditions including amyotrophic lateral sclerosis (ALS) and multiple sclerosis (MS), and has also investigated its potential applications in other neurodegenerative disorders.