Short Interest in Clene Inc. (NASDAQ:CLNN) Decreases By 37.9%

Clene Inc. (NASDAQ:CLNN) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 162,900 shares, a drop of 37.9% from the March 15th total of 262,500 shares. Based on an average trading volume of 743,600 shares, the short-interest ratio is currently 0.2 days.

Institutional Trading of Clene

A number of institutional investors have recently modified their holdings of the company. AE Wealth Management LLC raised its position in Clene by 208.5% in the 3rd quarter. AE Wealth Management LLC now owns 172,528 shares of the company’s stock valued at $86,000 after buying an additional 116,600 shares during the last quarter. Silverarc Capital Management LLC grew its stake in shares of Clene by 100.0% during the 3rd quarter. Silverarc Capital Management LLC now owns 500,000 shares of the company’s stock worth $248,000 after acquiring an additional 250,000 shares in the last quarter. Csenge Advisory Group acquired a new stake in shares of Clene in the third quarter valued at approximately $58,000. Two Sigma Securities LLC bought a new stake in shares of Clene in the first quarter worth $101,000. Finally, Two Sigma Investments LP acquired a new position in Clene during the third quarter worth $94,000. 23.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CLNN. Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Clene in a report on Wednesday, March 20th. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Clene in a research report on Wednesday, March 13th.

Clene Stock Down 5.5 %

Shares of CLNN traded down $0.02 on Friday, hitting $0.36. The company’s stock had a trading volume of 1,205,739 shares, compared to its average volume of 349,699. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $46.20 million, a price-to-earnings ratio of -0.69 and a beta of 0.50. The firm’s fifty day moving average price is $0.42 and its 200-day moving average price is $0.43. Clene has a fifty-two week low of $0.25 and a fifty-two week high of $1.13.

Clene (NASDAQ:CLNN) last issued its quarterly earnings data on Wednesday, March 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.14 million. Clene had a negative net margin of 7,569.42% and a negative return on equity of 253.48%. On average, equities research analysts expect that Clene will post -0.33 EPS for the current year.

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 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.