Clene (NASDAQ:CLNN) Stock Rating Reaffirmed by HC Wainwright

Clene (NASDAQ:CLNN – Get Rating)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued on Monday, Benzinga reports. They presently have a $15.00 price target on the stock.

Separately, Roth Capital reissued a “buy” rating on shares of Clene in a research report on Monday, February 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $11.80.

Clene Trading Down 4.8 %

Shares of NASDAQ:CLNN opened at $1.38 on Monday. The business has a 50-day moving average price of $1.24 and a 200 day moving average price of $1.84. The company has a market capitalization of $101.87 million, a price-to-earnings ratio of -3.63 and a beta of 0.36. Clene has a 12-month low of $0.87 and a 12-month high of $5.13.

Institutional Trading of Clene

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tang Capital Management LLC acquired a new position in Clene in the 3rd quarter valued at about $3,080,000. Vanguard Group Inc. grew its position in Clene by 14.7% in the 3rd quarter. Vanguard Group Inc. now owns 931,613 shares of the company’s stock valued at $2,609,000 after acquiring an additional 119,084 shares in the last quarter. State Street Corp grew its position in Clene by 2.3% in the 1st quarter. State Street Corp now owns 903,885 shares of the company’s stock valued at $3,561,000 after acquiring an additional 20,627 shares in the last quarter. Millennium Management LLC acquired a new position in Clene in the 2nd quarter valued at about $620,000. Finally, Geode Capital Management LLC grew its position in Clene by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 230,805 shares of the company’s stock valued at $230,000 after acquiring an additional 9,614 shares in the last quarter. 5.86% of the stock is owned by institutional investors and hedge funds.

About Clene

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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.