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

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Silverarc Capital Management LLC increased its holdings in shares of Clene by 100.0% during the third quarter. Silverarc Capital Management LLC now owns 500,000 shares of the company’s stock valued at $248,000 after acquiring an additional 250,000 shares in the last quarter. Csenge Advisory Group bought a new position in Clene in the 3rd quarter worth about $58,000. Finally, AE Wealth Management LLC grew its position in Clene by 208.5% during the 3rd quarter. AE Wealth Management LLC now owns 172,528 shares of the company’s stock valued at $86,000 after purchasing an additional 116,600 shares during the last quarter. Hedge funds and other institutional investors own 23.28% of the company’s stock.

Clene Stock Up 3.5 %

Shares of CLNN stock traded up $0.01 during mid-day trading on Monday, reaching $0.35. 148,167 shares of the company’s stock traded hands, compared to its average volume of 944,893. 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 company’s 50-day moving average price is $0.40 and its 200-day moving average price is $0.42. The company has a market cap of $45.17 million, a P/E ratio of -0.68 and a beta of 0.50. Clene has a 12 month low of $0.25 and a 12 month high of $1.09.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $5.00 target price on shares of Clene in a research note on Wednesday, March 20th. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Clene in a report on Wednesday, April 17th.

About Clene

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.