Clene (NASDAQ:CLNN) Receives “Buy” Rating from HC Wainwright

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They currently have a $7.00 price target on the stock.

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

Clene Price Performance

Shares of NASDAQ CLNN traded down $0.01 during midday trading on Wednesday, reaching $0.38. The stock had a trading volume of 305,296 shares, compared to its average volume of 926,406. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.53 and a current ratio of 1.53. Clene has a 12-month low of $0.25 and a 12-month high of $1.09. The stock has a 50-day moving average of $0.40 and a 200-day moving average of $0.41. The company has a market capitalization of $48.98 million, a price-to-earnings ratio of -0.74 and a beta of 0.47.

Clene (NASDAQ:CLNN) last announced its quarterly earnings data on Wednesday, March 13th. The company reported ($0.06) EPS 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 the consensus estimate of $0.14 million. Clene had a negative return on equity of 253.48% and a negative net margin of 7,569.42%. As a group, research analysts anticipate that Clene will post -0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Clene

A hedge fund recently raised its stake in Clene stock. Silverarc Capital Management LLC lifted its holdings in Clene Inc. (NASDAQ:CLNN) by 100.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 500,000 shares of the company’s stock after purchasing an additional 250,000 shares during the quarter. Silverarc Capital Management LLC owned 0.39% of Clene worth $248,000 at the end of the most recent quarter. 23.28% of the stock is owned by institutional investors.

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.