HC Wainwright & Co. reiterated its buy recommendation for Clene (NASDAQ: CLNN) on May 25, 2023, according to reports by Fintel.
Analyst Targets Hint At 806.27% Potential Increase
Analysts suggest that the one-year price target for Clene is 8.74 as of May 11, 2023. The forecasts vary from USD 4.04 to USD 15.75. The average value reflects a potential increase of 806.27% from the latest recorded closing price of $0.96.
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The projected annual revenue for Clene is projected to decline by 32.31% to 0MM. The anticipated annual non-GAAP EPS is -0.52.
What Is the Fund Sentiment?
Clene has 51 funds or institutions reporting positions, a 12.07% decrease from the preceding quarter. The average portfolio weight for all funds dedicated to CLNN is 0.01%, a 65.76% decrease. The institutions’ total shares increased by 4.94% to 4,090K shares over the past three months. The put/call ratio of CLNN is 2.08, indicating a bearish outlook.
What Are Other Shareholders Doing?
Kepos Capital holds 887K shares which represents 1.13% ownership of Clene. No change was seen in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 592K shares amounting to 0.76% ownership of the company, with no change in the last quarter.
Geode Capital Management holds 315K shares, or 0.40% ownership of the company. The previous filing reported 231K shares, reflecting an increase of 26.62%. The firm increased its portfolio allocation in CLNN by 43.00% over the last quarter.
VEXMX – Vanguard Extended Market Index Fund Investor Shares holds 289K shares representing 0.37% ownership of the company. In it’s prior filing, the firm reported owning 288K shares, representing an increase of 0.15%. The company reduced its portfolio allocation in CLNN by 65.53% over the last quarter.
Laird Norton Trust Company holds 269K shares worth 0.34% of the company, with no change seen in the last quarter.
Clene Background
(This description is provided by the company.)
Clene focuses on developing unique therapeutics for neurodegenerative diseases and is a clinical-stage biopharmaceutical company. Clene has invented a new class of orally administered neurotherapeutic drugs, utilizing its novel nanotechnology drug platform. Clene has also advanced into the clinic an aqueous solution of ionic zinc and silver for anti-viral and anti-microbial uses. North East, Maryland houses the company’s R&D and manufacturing operations, with its headquarters located in Salt Lake City, Utah. It was founded in 2013.
The key filings for this company are available here:
This story was initially published on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
