Clene Inc. (NASDAQ:CLNN) Sees Significant Decrease in Short Interest

Clene Inc. (NASDAQ:CLNN) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 148,500 shares, a decline of 8.8% from the March 31st total of 162,900 shares. Based on an average daily trading volume, of 913,500 shares, the days-to-cover ratio is presently 0.2 days.

Clene Stock Performance

Shares of NASDAQ CLNN traded up $0.01 during trading hours on Monday, reaching $0.35. 148,167 shares of the stock were exchanged, compared to its average volume of 944,893. The firm has a market capitalization of $45.17 million, a price-to-earnings ratio of -0.68 and a beta of 0.50. The stock’s fifty day simple moving average is $0.40 and its 200 day simple moving average is $0.42. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.53 and a current ratio of 1.53. Clene has a 52 week low of $0.25 and a 52 week high of $1.09.

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

Analysts Set New Price Targets

Several brokerages have recently commented on CLNN. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Clene in a research note on Wednesday, April 17th. Benchmark reiterated a “buy” rating and issued a $5.00 price objective on shares of Clene in a report on Wednesday, March 20th.

Institutional Trading of Clene

A number of institutional investors have recently bought and sold shares of CLNN. Silverarc Capital Management LLC grew its holdings 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 purchasing an additional 250,000 shares in the last quarter. AE Wealth Management LLC lifted its position in Clene by 208.5% during the third quarter. AE Wealth Management LLC now owns 172,528 shares of the company’s stock worth $86,000 after purchasing an additional 116,600 shares during the period. Finally, Csenge Advisory Group acquired a new stake in Clene during the third quarter worth about $58,000. 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.