Canaccord Genuity lifts Clene Inc. [CLNN] price estimate. Who else is bullish?


Clene Inc. [NASDAQ: CLNN] gained 43.40% on the last trading session, reaching $4.13 price per share at the time. The company report on July 14, 2022 that Clene Reports Significantly Decreased Mortality in RESCUE-ALS Long-Term Open Label Extension Trial.

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As of the July 5, 2022, data cutoff, early CNM-Au8® treatment resulted in a significant survival benefit (5 CNM-Au8 deaths vs. 14 placebo deaths, HR=0.301, p=0.0143).

CNM-Au8 treatment was well-tolerated, and there were no significant safety findings reported during this open-label trial.

Clene Inc. represents 62.85 million in outstanding shares, while the company has a total market value of $254.74 million with the latest information. CLNN stock price has been found in the range of $3.08 to $4.30.

If compared to the average trading volume of 926.28K shares, CLNN reached a trading volume of 39938864 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Clene Inc. [CLNN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CLNN shares is $14.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CLNN stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Canaccord Genuity have made an estimate for Clene Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 02, 2022. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Outperform. The new note on the price target was released on September 28, 2021, representing the official price target for Clene Inc. stock.

The Average True Range (ATR) for Clene Inc. is set at 0.48, with the Price to Sales ratio for CLNN stock in the period of the last 12 months amounting to 509.48. The Price to Book ratio for the last quarter was 137.67, with the Price to Cash per share for the same quarter was set at 0.59.

Trading performance analysis for CLNN stock

Clene Inc. [CLNN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 51.28. With this latest performance, CLNN shares gained by 33.66% in over the last four-week period, additionally plugging by 8.12% over the last 6 months – not to mention a drop of -62.08% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CLNN stock in for the last two-week period is set at 71.67, with the RSI for the last a single of trading hit 80.07, and the three-weeks RSI is set at 66.10 for Clene Inc. [CLNN]. The present Moving Average for the last 50 days of trading for this stock 2.69, while it was recorded at 3.09 for the last single week of trading, and 3.75 for the last 200 days.

Clene Inc. [CLNN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Clene Inc. [CLNN] shares currently have an operating margin of -6912.59 and a Gross Margin at -64.45. Clene Inc.’s Net Margin is presently recorded at -1347.16.

Return on Equity for this stock declined to -150.56, with Return on Assets sitting at -14.84.

Clene Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.80 and a Current Ratio set at 7.80.

An analysis of insider ownership at Clene Inc. [CLNN]

There are presently around $18 million, or 10.00% of CLNN stock, in the hands of institutional investors. The top three institutional holders of CLNN stocks are: BLACKROCK INC. with ownership of 1,131,161, which is approximately -1.268% of the company’s market cap and around 30.00% of the total institutional ownership; STATE STREET CORP, holding 903,885 shares of the stock with an approximate value of $2.6 million in CLNN stocks shares; and VANGUARD GROUP INC, currently with $2.27 million in CLNN stock with ownership of nearly -21.696% of the company’s market capitalization.

Positions in Clene Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 22 institutional holders increased their position in Clene Inc. [NASDAQ:CLNN] by around 320,314 shares. Additionally, 21 investors decreased positions by around 368,708 shares, while 14 investors held positions by with 5,579,329 shares. The mentioned changes placed institutional holdings at 6,268,351 shares, according to the latest SEC report filing. CLNN stock had 9 new institutional investments in for a total of 97,986 shares, while 4 institutional investors sold positions of 76,740 shares during the same period.