Clene (NASDAQ:CLNN) PT Raised to $31.00

Clene (NASDAQ:CLNN) had its price target hoisted by HC Wainwright from $7.00 to $31.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Clene’s Q3 2024 earnings at ($1.32) EPS, Q4 2024 earnings at ($1.55) EPS, FY2024 earnings at ($5.62) EPS, FY2025 earnings at ($5.80) EPS, FY2026 earnings at ($4.82) EPS, FY2027 earnings at $1.41 EPS and FY2028 earnings at $12.59 EPS.

Several other research firms have also recently weighed in on CLNN. Canaccord Genuity Group reiterated a buy rating and issued a $94.00 target price on shares of Clene in a research note on Tuesday, August 6th. Benchmark reiterated a buy rating and issued a $100.00 target price on shares of Clene in a research note on Thursday, May 23rd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Clene presently has a consensus rating of Buy and a consensus target price of $101.00.

Clene Stock Performance

Shares of NASDAQ CLNN traded up $0.65 during mid-day trading on Friday, hitting $5.06. The company had a trading volume of 86,291 shares, compared to its average volume of 70,525. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.23 and a quick ratio of 1.22. The business’s 50-day simple moving average is $6.08 and its 200-day simple moving average is $7.45. Clene has a 12 month low of $3.82 and a 12 month high of $15.57. The firm has a market cap of $32.50 million, a P/E ratio of -0.55 and a beta of 0.46.

Clene (NASDAQ:CLNN) last released its earnings results on Wednesday, August 7th. The company reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($1.60) by $0.54. Clene had a negative net margin of 7,873.23% and a negative return on equity of 224.28%. The business had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.10 million. As a group, analysts predict that Clene will post -6.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Clene stock. Csenge Advisory Group boosted its holdings in shares of Clene Inc. (NASDAQ:CLNN) by 131.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 269,600 shares of the company’s stock after purchasing an additional 153,000 shares during the period. Csenge Advisory Group owned about 0.21% of Clene worth $96,000 as of its most recent SEC filing. 23.28% of the stock is owned by institutional investors.

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.