Clene (NASDAQ:CLNN) Raised 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 research note published on Tuesday, Zacks.com reports.

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

Clene Trading Up 4.1 %

Shares of Clene stock opened at $6.34 on Tuesday. The firm has a market capitalization of $41.02 million, a PE ratio of -0.69 and a beta of 0.48. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.99 and a quick ratio of 0.99. The company’s fifty day moving average price is $5.22 and its two-hundred day moving average price is $6.84. Clene has a 52-week low of $3.82 and a 52-week high of $13.20.

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

Institutional Trading of Clene

An institutional investor recently raised its position in Clene stock. Csenge Advisory Group raised its stake in Clene Inc. (NASDAQ:CLNN) by 131.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 and Exchange Commission. Hedge funds and other institutional investors own 23.28% of the company’s stock.

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.