Clene (NASDAQ:CLNN) Stock Rating Reaffirmed by Benchmark

Benchmark reissued their buy rating on shares of Clene (NASDAQ:CLNN) in a report issued on Thursday morning, Benzinga reports. Benchmark currently has a $5.00 price objective on the stock.

Separately, HC Wainwright reiterated a buy rating and issued a $7.00 price target on shares of Clene in a research note on Wednesday, May 8th.

Clene Stock Performance

NASDAQ:CLNN opened at $0.35 on Thursday. The stock has a 50-day moving average price of $0.39 and a 200 day moving average price of $0.41. The stock has a market capitalization of $45.08 million, a P/E ratio of -0.76 and a beta of 0.47. Clene has a 12-month low of $0.25 and a 12-month high of $1.09. The company has a current ratio of 1.23, a quick ratio of 1.22 and a debt-to-equity ratio of 1.66.

Clene (NASDAQ:CLNN) last announced its quarterly earnings data on Wednesday, March 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.14 million. Equities research analysts forecast that Clene will post -0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

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