A Salt Lake City-based %Biotech company found tremendous success on Wednesday after %Oppenheimer adjusted its price target to $17.00 from $16.00. While this $1 move isn’t necessarily groundbreaking news, the fact that shares are currently trading around $4.00, traders couldn’t seem to get their hands on shares of %Clene Inc. ($CLNN) fast enough.
Clene Inc is a clinical-stage pharmaceutical company pioneering the discovery, development, and commercialization of novel clean-surfaced %Nanotechnology (CSN) therapeutics. It is focused on the development of therapeutics for neurodegenerative diseases. Its reportable segments: (1) the development and commercialization of novel clean-surfaced nanotechnology therapeutics (Drugs, and (2) the development and commercialization of dietary supplements (Supplements).
Traders were extremely bullish on the new price target as shares of Clene Inc. reached $4.12/share (+13.50%) at the session high. With this amount of upside until the price target, it’ll be interesting to see how this small cap plays out in the coming weeks.
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