On March 8, 2023, EF Hutton initiated coverage of Clene with a Buy recommendation.
Analyst Price Forecast Suggests 596.07% Upside
As of March 8, 2023, the average one-year price target for Clene is $8.84. The forecasts range from a low of $4.04 to a high of $15.75. The average price target represents an increase of 596.07% from its latest reported closing price of $1.27.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Clene is $0MM, a decrease of 15.00%. The projected annual non-GAAP EPS is -$0.52.
What are Large Shareholders Doing?
Kepos Capital holds 887K shares representing 1.20% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 592K shares representing 0.80% ownership of the company. No change in the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 289K shares representing 0.39% ownership of the company. In it's prior filing, the firm reported owning 288K shares, representing an increase of 0.15%. The firm decreased its portfolio allocation in CLNN by 65.53% over the last quarter.
Laird Norton Trust Company holds 269K shares representing 0.36% ownership of the company. No change in the last quarter.
Geode Capital Management holds 231K shares representing 0.31% ownership of the company. In it's prior filing, the firm reported owning 221K shares, representing an increase of 4.17%. The firm decreased its portfolio allocation in CLNN by 65.62% over the last quarter.
What is the Fund Sentiment?
There are 56 funds or institutions reporting positions in Clene. This is a decrease of 37 owner(s) or 39.78% in the last quarter. Average portfolio weight of all funds dedicated to CLNN is 0.01%, a decrease of 59.09%. Total shares owned by institutions decreased in the last three months by 23.08% to 3,888K shares. The put/call ratio of CLNN is 2.37, indicating a bearish outlook.
Clene Background Information
(This description is provided by the company.)
Clene is a clinical-stage biopharmaceutical company focused on the development of unique therapeutics for neurodegenerative diseases. Clene has innovated a novel nanotechnology drug platform for the development of a new class of orally administered neurotherapeutic drugs. Clene has also advanced into the clinic an aqueous solution of ionic zinc and silver for anti-viral and anti-microbial uses. Founded in 2013, the company is based in Salt Lake City, Utah with R&D and manufacturing operations located in North East, Maryland.
This story originally appeared on Fintel.
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