Clene (NASDAQ:CLNN) Upgraded to Strong-Buy at EF Hutton Acquisition Co. I

EF Hutton Acquisition Co. I upgraded shares of Clene (NASDAQ:CLNN) to a strong-buy rating in a report published on Tuesday, Zacks.com reports.

A number of other brokerages have also commented on CLNN. Canaccord Genuity Group reaffirmed a buy rating and issued a $94.00 price target on shares of Clene in a research note on Tuesday, August 6th. HC Wainwright increased their price target on shares of Clene from $7.00 to $31.00 and gave the stock a buy rating in a research note on Friday, August 9th. Finally, Benchmark restated a buy rating and set a $100.00 price target on shares of Clene in a research report on Thursday, May 23rd.

Clene Price Performance

CLNN stock opened at $6.09 on Tuesday. The stock has a market capitalization of $39.40 million, a price-to-earnings ratio of -0.66 and a beta of 0.48. The firm’s 50-day moving average price is $5.23 and its two-hundred day moving average price is $6.84. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.66. Clene has a 12-month low of $3.82 and a 12-month high of $13.50.

Clene (NASDAQ:CLNN) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($1.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.60) by $0.54. Clene had a negative return on equity of 315.97% and a negative net margin of 6,890.50%. The company had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.10 million. As a group, equities analysts predict that Clene will post -5.26 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Clene stock. Csenge Advisory Group grew its position in shares of Clene Inc. (NASDAQ:CLNN) by 131.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 269,600 shares of the company’s stock after buying an additional 153,000 shares during the quarter. Csenge Advisory Group owned 0.21% of Clene worth $96,000 as of its most recent filing with the Securities & Exchange Commission. 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.