HC Wainwright Reaffirms Buy Rating for Clene (NASDAQ:CLNN)

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating restated by HC Wainwright in a report released on Wednesday, Benzinga reports. They presently have a $7.00 price objective on the stock.

Separately, Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Clene in a report on Wednesday, March 20th.

Clene Trading Up 12.4 %

Shares of NASDAQ CLNN traded up $0.04 during midday trading on Wednesday, hitting $0.35. The stock had a trading volume of 9,257,685 shares, compared to its average volume of 976,258. The company has a market capitalization of $44.73 million, a price-to-earnings ratio of -0.67 and a beta of 0.50. Clene has a 1-year low of $0.25 and a 1-year high of $1.09. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average price of $0.42 and a 200 day moving average price of $0.43.

Clene (NASDAQ:CLNN) last released its quarterly earnings data on Wednesday, March 13th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.14 million. Clene had a negative return on equity of 253.48% and a negative net margin of 7,569.42%. On average, analysts predict that Clene will post -0.33 earnings per share for the current year.

Institutional Trading of Clene

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Clene by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 2,618,388 shares of the company’s stock worth $777,000 after purchasing an additional 172,471 shares during the period. Worth Venture Partners LLC acquired a new position in Clene during the second quarter valued at $1,305,000. Hudson Bay Capital Management LP purchased a new position in Clene in the second quarter valued at about $1,213,000. State Street Corp grew its stake in Clene by 2.3% in the first quarter. State Street Corp now owns 903,885 shares of the company’s stock valued at $3,561,000 after purchasing an additional 20,627 shares in the last quarter. Finally, Silverarc Capital Management LLC grew its stake in Clene by 100.0% in the third quarter. Silverarc Capital Management LLC now owns 500,000 shares of the company’s stock valued at $248,000 after purchasing an additional 250,000 shares in the last quarter. Institutional investors and hedge funds own 23.28% of the company’s stock.

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 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.