Clene (NASDAQ:CLNN) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Clene (NASDAQ:CLNN) in a research note published on Tuesday morning,Benzinga reports. HC Wainwright currently has a $31.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. Benchmark decreased their price objective on Clene from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. D. Boral Capital reiterated a “buy” rating and issued a $23.00 price objective on shares of Clene in a research note on Tuesday. Finally, Canaccord Genuity Group decreased their price objective on Clene from $86.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $55.25.

Clene Stock Performance

Shares of CLNN opened at $4.27 on Tuesday. The stock has a 50-day simple moving average of $4.81 and a 200-day simple moving average of $5.05. The stock has a market capitalization of $35.55 million, a PE ratio of -0.81 and a beta of 0.24. Clene has a 1 year low of $3.82 and a 1 year high of $10.40.

Institutional Investors Weigh In On Clene

Several institutional investors have recently added to or reduced their stakes in the business. Fullcircle Wealth LLC purchased a new stake in Clene during the fourth quarter worth approximately $69,000. SBI Securities Co. Ltd. acquired a new position in Clene during the fourth quarter worth approximately $69,000. Renaissance Technologies LLC acquired a new position in Clene during the fourth quarter worth approximately $96,000. Geode Capital Management LLC increased its position in Clene by 52.9% during the fourth quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock worth $346,000 after buying an additional 22,539 shares during the period. Finally, Parsons Capital Management Inc. RI acquired a new position in Clene during the fourth quarter worth approximately $194,000. Hedge funds and other 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.