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

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reaffirmed by investment analysts at D. Boral Capital in a report released on Monday,Benzinga reports. They presently have a $23.00 target price on the stock. D. Boral Capital’s price target indicates a potential upside of 455.56% from the stock’s previous close.

Separately, HC Wainwright reissued a “buy” rating and issued a $31.00 price objective on shares of Clene in a report on Wednesday, March 12th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Clene currently has an average rating of “Buy” and an average target price of $55.25.

Clene Price Performance

Shares of CLNN opened at $4.14 on Monday. The firm has a market capitalization of $34.47 million, a PE ratio of -0.78 and a beta of 0.27. The company’s fifty day moving average price is $4.57 and its 200-day moving average price is $4.92. Clene has a 1-year low of $3.82 and a 1-year high of $9.20.

Institutional Inflows and Outflows

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