Clene’s (CLNN) Buy Rating Reaffirmed at D. Boral Capital

D. Boral Capital restated their buy rating on shares of Clene (NASDAQ:CLNN) in a research report report published on Monday,Benzinga reports. D. Boral Capital currently has a $23.00 price target on the stock.

A number of other research firms have also weighed in on CLNN. Benchmark dropped their price target on shares of Clene from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Canaccord Genuity Group lowered their target price on shares of Clene from $83.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clene in a research note on Tuesday, October 14th. Finally, Wall Street Zen cut Clene from a “hold” rating to a “strong sell” rating in a report on Saturday, August 16th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Clene presently has a consensus rating of “Moderate Buy” and an average target price of $32.60.

Clene Stock Performance

NASDAQ:CLNN opened at $8.61 on Monday. The stock has a 50-day simple moving average of $8.21 and a two-hundred day simple moving average of $5.41. The firm has a market capitalization of $88.94 million, a PE ratio of -2.54 and a beta of 0.71. Clene has a 52-week low of $2.28 and a 52-week high of $13.50.

Clene (NASDAQ:CLNN) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.25). The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.06 million. Equities analysts forecast that Clene will post -5.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CLNN. Jones Financial Companies Lllp bought a new stake in shares of Clene in the third quarter worth about $29,000. Jane Street Group LLC purchased a new position in Clene during the 2nd quarter valued at approximately $47,000. Lunt Capital Management Inc. increased its stake in Clene by 71.2% in the 2nd quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock worth $199,000 after acquiring an additional 21,217 shares during the last quarter. Finally, Scoggin Management LP raised its holdings in shares of 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 in the last quarter. 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.