Clene Inc. (NASDAQ:CLNN) Short Interest Down 38.5% in March

Clene Inc. (NASDAQ:CLNN) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 262,500 shares, a decrease of 38.5% from the February 29th total of 427,100 shares. Based on an average daily volume of 1,090,000 shares, the days-to-cover ratio is currently 0.2 days.

Clene Trading Up 0.1 %

NASDAQ CLNN traded up $0.00 on Thursday, reaching $0.43. The stock had a trading volume of 238,227 shares, compared to its average volume of 795,114. Clene has a 12-month low of $0.25 and a 12-month high of $1.22. The stock has a fifty day moving average price of $0.44 and a two-hundred day moving average price of $0.44. The firm has a market capitalization of $54.63 million, a price-to-earnings ratio of -0.82 and a beta of 0.49. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.53.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC purchased a new stake in Clene during the 2nd quarter worth about $29,000. Goldman Sachs Group Inc. purchased a new position in shares of Clene during the first quarter worth approximately $70,000. UBS Group AG grew its position in shares of Clene by 113.0% during the second quarter. UBS Group AG now owns 22,411 shares of the company’s stock worth $56,000 after acquiring an additional 11,887 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new position in shares of Clene during the first quarter worth approximately $29,000. Finally, Two Sigma Investments LP purchased a new position in shares of Clene during the third quarter worth approximately $94,000. Institutional investors and hedge funds own 23.28% of the company’s stock.

Analyst Ratings Changes

CLNN has been the subject of several analyst reports. Benchmark reissued a “buy” rating and issued a $5.00 price target on shares of Clene in a research note on Wednesday, March 20th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Clene in a research note on Wednesday, March 13th.

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 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.