Clene (NASDAQ:CLNN) Given "Buy" Rating at D. Boral Capital

Key Points

• D. Boral Capital has restated its "buy" rating for Clene (NASDAQ:CLNN) with a target price of $23.00, indicating a potential upside of 280.17% from the previous close.
• Other analysts have varied opinions, with Benchmark lowering its target to $31.00 and Canaccord Genuity reducing it to $48.00, while Wall Street Zen downgraded Clene to a "strong sell."
• Clene reported a loss of ($0.78) per share for the last quarter, falling short of analysts' expectations, and had a small revenue of $0.03 million against estimates of $0.06 million.

Clene (NASDAQ:CLNN - Get Free Report)'s stock had its "buy" rating restated by research analysts at D. Boral Capital in a research note issued on Thursday,Benzinga reports. They presently have a $23.00 target price on the stock. D. Boral Capital's price objective points to a potential upside of 280.17% from the company's previous close.

Several other equities analysts have also commented on CLNN. Benchmark reduced their target price on shares of Clene from $33.00 to $31.00 and set a "buy" rating on the stock in a report on Wednesday, September 10th. Canaccord Genuity Group reduced their price objective on Clene from $83.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Finally, Wall Street Zen lowered Clene from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 16th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $32.60.

Clene Stock Down 1.1%

Shares of NASDAQ CLNN opened at $6.05 on Thursday. The business has a 50-day simple moving average of $4.87 and a two-hundred day simple moving average of $3.94. Clene has a 52 week low of $2.28 and a 52 week high of $7.10. The company has a market cap of $60.92 million, a P/E ratio of -1.61 and a beta of 0.58.

Clene (NASDAQ:CLNN - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.78) earnings per share for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.29). The company had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.06 million. Equities research analysts anticipate that Clene will post -5.19 EPS for the current year.

Institutional Trading of Clene

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Penn Davis Mcfarland Inc. purchased a new stake in Clene during the first quarter valued at approximately $34,000. Jane Street Group LLC bought a new stake in shares of Clene during the 2nd quarter valued at $47,000. Lunt Capital Management Inc. increased its stake in shares of 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 purchasing an additional 21,217 shares in the last quarter. Finally, Scoggin Management LP lifted its position in Clene by 42.8% during the second quarter. Scoggin Management LP now owns 142,750 shares of the company's stock valued at $558,000 after purchasing an additional 42,750 shares in the last quarter. 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.

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