Clene (NASDAQ:CLNN) Rating Reiterated by Benchmark

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reaffirmed by Benchmark in a report released on Thursday, Benzinga reports. They presently have a $5.00 target price on the stock.

Separately, HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Clene in a report on Wednesday, May 8th.

Clene Trading Up 1.3 %

CLNN stock traded up $0.00 during midday trading on Thursday, hitting $0.37. The stock had a trading volume of 41,135 shares, compared to its average volume of 857,534. The firm has a market cap of $47.38 million, a PE ratio of -0.80 and a beta of 0.47. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.23 and a quick ratio of 1.22. Clene has a 12-month low of $0.25 and a 12-month high of $1.09. The company’s 50-day moving average price is $0.39 and its 200 day moving average price is $0.41.

Clene (NASDAQ:CLNN) last released its earnings results on Wednesday, March 13th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Clene had a negative net margin of 7,873.23% and a negative return on equity of 224.28%. The firm had revenue of $0.17 million during the quarter, compared to analysts’ expectations of $0.14 million. On average, equities research analysts predict that Clene will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Clene

A hedge fund recently raised its stake in Clene stock. Silverarc Capital Management LLC increased its holdings in shares of Clene Inc. (NASDAQ:CLNN) by 100.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 500,000 shares of the company’s stock after purchasing an additional 250,000 shares during the period. Silverarc Capital Management LLC owned 0.39% of Clene worth $248,000 as of its most recent filing with the Securities and Exchange Commission. 23.28% of the stock is owned by hedge funds and other institutional investors.

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.