Zacks Investment Research Upgrades Clene (NASDAQ:CLNN) to “Buy”

Zacks Investment Research upgraded shares of Clene (NASDAQ:CLNN) from a hold rating to a buy rating in a report published on Monday, Zacks.com reports. They currently have $14.00 target price on the stock.

According to Zacks, “Clene Inc. is a clinical-stage biopharmaceutical company. It is focused on the development of unique therapeutics for neurodegenerative diseases. Clene Nanomedicine Inc., formerly known as Tottenham Acquisition I Limited, is based in SALT LAKE CITY. “

A number of other equities analysts have also recently commented on CLNN. Roth Capital initiated coverage on shares of Clene in a research note on Wednesday, February 3rd. They set a buy rating and a $24.00 price target for the company. Benchmark initiated coverage on shares of Clene in a research report on Monday, March 8th. They issued a buy rating and a $25.00 price objective for the company.

CLNN stock opened at $12.48 on Monday. Clene has a 12 month low of $6.23 and a 12 month high of $16.50. The business’s 50-day moving average price is $13.17. The stock has a market cap of $43.13 million, a PE ratio of -28.36 and a beta of -0.01.

Several large investors have recently bought and sold shares of CLNN. Kepos Capital LP bought a new stake in shares of Clene in the 4th quarter valued at about $2,372,000. Walleye Trading LLC bought a new stake in shares of Clene in the 4th quarter valued at about $143,000. Bluefin Capital Management LLC bought a new stake in shares of Clene in the 4th quarter valued at about $139,000. Finally, Basso Capital Management L.P. bought a new stake in shares of Clene in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 62.63% 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. The company has a nanotechnology drug suspension; and engages in the development and commercialization of dietary supplements. Its lead drug is CNM-Au8, which is being studied in various clinical trials, including a Phase 2 study for the treatment of stable multiple sclerosis; a Phase 2 biomarker study in Parkinson's; and Phase 2 and Phase 3 trials to investigate the potential for disease modification for neurodegenerative diseases.

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