D. Boral Capital Reiterates “Buy” Rating for Clene (NASDAQ:CLNN)

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reiterated by stock analysts at D. Boral Capital in a report issued on Wednesday,Benzinga reports. They presently have a $23.00 price objective on the stock. D. Boral Capital’s target price would suggest a potential upside of 406.61% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Benchmark decreased their target price on shares of Clene from $90.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. HC Wainwright reissued a “buy” rating and issued a $31.00 price target on shares of Clene in a research note on Tuesday, February 25th. Finally, Canaccord Genuity Group lowered their price objective on shares of Clene from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $55.25.

Clene Stock Up 3.2 %

NASDAQ:CLNN opened at $4.54 on Wednesday. Clene has a 52 week low of $3.82 and a 52 week high of $9.76. The stock’s fifty day moving average is $4.73 and its two-hundred day moving average is $5.00. The company has a market capitalization of $37.80 million, a P/E ratio of -0.86 and a beta of 0.27.

Institutional Trading of Clene

Several hedge funds have recently made changes to their positions in CLNN. Parsons Capital Management Inc. RI acquired a new position in shares of Clene in the fourth quarter worth $194,000. Geode Capital Management LLC boosted its stake in shares of Clene by 52.9% in the 4th quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock valued at $346,000 after buying an additional 22,539 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Clene during the fourth quarter worth about $96,000. SBI Securities Co. Ltd. acquired a new position in shares of Clene during the fourth quarter worth about $69,000. Finally, Fullcircle Wealth LLC purchased a new stake in shares of Clene during the fourth quarter worth approximately $69,000. Institutional investors and hedge funds own 23.28% of the company’s stock.

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.