S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68

Clene (NASDAQ:CLNN) Stock Rating Upgraded by Zacks Investment Research

Saturday, May 14, 2022 | MarketBeat

Clene (NASDAQ:CLNN - Get Rating) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, "Clene Inc. is a clinical-stage biopharmaceutical company. It is focused on the development of unique therapeutics for neurodegenerative diseases. Clene Nanomedicine Inc., formerly known as Tottenham Acquisition I Limited, is based in SALT LAKE CITY. "

CLNN has been the subject of several other reports. Canaccord Genuity Group began coverage on Clene in a report on Monday, May 2nd. They set a "buy" rating and a $10.00 price target for the company. Roth Capital reissued a "buy" rating on shares of Clene in a report on Monday, February 14th. Finally, Canaccord Genuity Group began coverage on Clene in a report on Monday, May 2nd. They set a "buy" rating and a $10.00 price target for the company. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $13.17.

Shares of NASDAQ CLNN traded down $0.16 during midday trading on Friday, hitting $2.10. 182,707 shares of the company's stock were exchanged, compared to its average volume of 114,540. The company has a quick ratio of 9.05, a current ratio of 9.06 and a debt-to-equity ratio of 1.52. Clene has a 12 month low of $2.01 and a 12 month high of $17.82. The company's 50 day moving average price is $2.98 and its 200 day moving average price is $3.69. The firm has a market capitalization of $132.84 million, a PE ratio of 9.13 and a beta of 0.37.


Clene (NASDAQ:CLNN - Get Rating) last released its quarterly earnings results on Friday, March 11th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The company had revenue of $0.20 million during the quarter, compared to analyst estimates of $0.14 million. On average, equities research analysts anticipate that Clene will post -0.71 EPS for the current year.

In other Clene news, Director David J. Matlin purchased 10,000 shares of the firm's stock in a transaction dated Monday, March 28th. The shares were bought at an average price of $3.10 per share, for a total transaction of $31,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David J. Matlin purchased 20,000 shares of the firm's stock in a transaction dated Friday, March 18th. The stock was acquired at an average price of $2.79 per share, for a total transaction of $55,800.00. The disclosure for this purchase can be found here. Insiders acquired a total of 217,891 shares of company stock valued at $647,102 over the last ninety days. Insiders own 28.70% of the company's stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley increased its stake in shares of Clene by 110.5% in the 1st quarter. Morgan Stanley now owns 2,105 shares of the company's stock valued at $27,000 after purchasing an additional 1,105 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Clene in the 4th quarter valued at $62,000. Bank of America Corp DE increased its stake in shares of Clene by 7,045.1% in the 2nd quarter. Bank of America Corp DE now owns 5,859 shares of the company's stock valued at $66,000 after purchasing an additional 5,777 shares during the last quarter. Veritable L.P. bought a new position in shares of Clene in the 1st quarter valued at $79,000. Finally, Oppenheimer & Co. Inc. bought a new stake in Clene during the 4th quarter worth $91,000. Institutional investors own 23.07% of the company's stock.

Clene Company Profile (Get Rating)

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 Phase 2/3 registrational clinical trial for 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; ongoing Phase 2 clinical trial for the treatment of visual pathway deficits in chronic optic neuropathy for remyelination in stable relapsing Multiple Sclerosis; and a planned Phase 2 clinical trial for the treatment of patients with Parkinson's Diseases.

See Also

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Analyst Recommendations for Clene (NASDAQ:CLNN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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