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

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reaffirmed by equities research analysts at D. Boral Capital in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $23.00 target price on the stock. D. Boral Capital’s price target points to a potential upside of 406.61% from the stock’s current price.

Several other research firms have also commented on CLNN. Canaccord Genuity Group cut their price objective on Clene from $86.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Benchmark reduced their price objective on Clene from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $31.00 target price on shares of Clene in a research note on Tuesday, February 25th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Clene has an average rating of “Buy” and an average price target of $55.25.

Clene Stock Up 3.2 %

CLNN opened at $4.54 on Wednesday. The firm’s fifty day simple moving average is $4.73 and its two-hundred day simple moving average is $5.00. Clene has a 52-week low of $3.82 and a 52-week high of $9.76. The company has a market cap of $37.80 million, a price-to-earnings ratio of -0.86 and a beta of 0.27.

Institutional Investors Weigh In On Clene

Several hedge funds and other institutional investors have recently made changes to their positions in CLNN. Fullcircle Wealth LLC acquired a new position in Clene during the fourth quarter worth $69,000. SBI Securities Co. Ltd. purchased a new position in shares of Clene during the 4th quarter worth $69,000. Renaissance Technologies LLC acquired a new position in shares of Clene during the 4th quarter valued at about $96,000. Parsons Capital Management Inc. RI purchased a new stake in shares of Clene in the fourth quarter valued at about $194,000. Finally, Geode Capital Management LLC increased its position in Clene by 52.9% during the fourth quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock worth $346,000 after purchasing an additional 22,539 shares during 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 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.