Clene Inc. (NASDAQ:CLNN) Short Interest Update

by · The Cerbat Gem

Clene Inc. (NASDAQ:CLNN – Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 107,800 shares, a growth of 24.6% from the March 15th total of 86,500 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily volume of 55,100 shares, the short-interest ratio is presently 2.0 days.

Hedge Funds Weigh In On Clene

Institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new position in Clene during the fourth quarter worth about $69,000. Fullcircle Wealth LLC acquired a new position in Clene during the 4th quarter worth about $69,000. Renaissance Technologies LLC bought a new stake in shares of Clene during the fourth quarter valued at approximately $96,000. Parsons Capital Management Inc. RI acquired a new stake in shares of Clene in the 4th quarter valued at $194,000. Finally, 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 purchasing an additional 22,539 shares during the last quarter. Institutional investors own 23.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and set a $31.00 price target on shares of Clene in a research report on Tuesday, April 8th. D. Boral Capital reiterated a “buy” rating and issued a $23.00 target price on shares of Clene in a report on Tuesday, April 8th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Clene presently has an average rating of “Buy” and an average price target of $55.25.

Read Our Latest Stock Report on CLNN

Clene Stock Performance

Shares of NASDAQ:CLNN traded up $0.02 during trading on Monday, reaching $3.02. The company had a trading volume of 60,120 shares, compared to its average volume of 75,736. The firm has a market capitalization of $25.96 million, a PE ratio of -0.57 and a beta of 0.46. Clene has a twelve month low of $2.57 and a twelve month high of $9.20. The firm’s fifty day moving average is $3.85 and its 200 day moving average is $4.58.

Clene (NASDAQ:CLNN – Get Free Report) last released its quarterly earnings results on Monday, March 24th. The company reported ($1.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.21) by ($0.46). The firm had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.13 million. Clene had a negative net margin of 8,556.77% and a negative return on equity of 1,106.30%. Equities analysts predict that Clene will post -5.19 earnings per share for the current fiscal year.

Clene Company Profile

(Get Free Report)

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.

Read More