Clene Inc. (NASDAQ:CLNN) Short Interest Down 44.1% in June

Clene Inc. (NASDAQ:CLNN) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totalling 333,400 shares, a decline of 44.1% from the May 31st total of 596,500 shares. Based on an average trading volume of 866,000 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analyst Weigh In

CLNN has been the subject of several recent analyst reports. Benchmark restated a “buy” rating and set a $5.00 target price on shares of Clene in a research note on Thursday, May 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Clene in a research note on Tuesday, June 18th.

Clene Price Performance

Shares of NASDAQ:CLNN traded down $0.01 during trading on Friday, hitting $0.36. 312,538 shares of the company were exchanged, compared to its average volume of 841,412. Clene has a 1-year low of $0.25 and a 1-year high of $0.95. The company has a market capitalization of $45.75 million, a P/E ratio of -0.77 and a beta of 0.45. The company has a quick ratio of 1.22, a current ratio of 1.23 and a debt-to-equity ratio of 1.66. The business’s 50 day moving average is $0.37 and its 200-day moving average is $0.40.

Clene (NASDAQ:CLNN) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.16 million. Clene had a negative return on equity of 224.28% and a negative net margin of 7,873.23%. Equities analysts forecast that Clene will post -0.34 earnings per share for the current year.

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.