Clene Inc. (NASDAQ:CLNN) Short Interest Update

Clene Inc. (NASDAQ:CLNN) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 249,600 shares, a drop of 25.1% from the June 15th total of 333,400 shares. Based on an average daily volume of 912,000 shares, the days-to-cover ratio is currently 0.3 days.

Clene Stock Performance

Shares of Clene stock traded up $0.17 on Friday, hitting $5.25. 103,205 shares of the company traded hands, compared to its average volume of 41,987. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.22 and a current ratio of 1.23. Clene has a 12-month low of $4.59 and a 12-month high of $17.00. The firm’s 50-day simple moving average is $7.20 and its 200 day simple moving average is $7.86.

Clene (NASDAQ:CLNN) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($1.80) EPS for the quarter, meeting analysts’ consensus estimates of ($1.80). The business had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.16 million. Clene had a negative net margin of 7,873.23% and a negative return on equity of 224.28%. On average, analysts expect that Clene will post -6.8 EPS for the current year.

Institutional Trading of Clene

A hedge fund recently raised its stake in Clene stock. Csenge Advisory Group boosted its stake in shares of Clene Inc. (NASDAQ:CLNN) by 131.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 269,600 shares of the company’s stock after acquiring an additional 153,000 shares during the quarter. Csenge Advisory Group owned 0.21% of Clene worth $96,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 23.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CLNN shares. HC Wainwright reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Clene in a report on Tuesday, June 18th. Benchmark reissued a “buy” rating and issued a $100.00 price target on shares of Clene in a report on Thursday, May 23rd.

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.