Clene (NASDAQ:CLNN) Receives “Buy” Rating from HC Wainwright

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They presently have a $31.00 price objective on the stock.

Other analysts have also issued research reports about the stock. Canaccord Genuity Group lowered their target price on shares of Clene from $94.00 to $86.00 and set a “buy” rating for the company in a report on Friday, October 4th. EF Hutton Acquisition Co. I raised Clene to a “strong-buy” rating in a research note on Tuesday, September 10th.

Clene Stock Performance

Clene stock opened at $4.82 on Thursday. The company has a market cap of $33.07 million, a PE ratio of -1.08 and a beta of 0.42. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.66. Clene has a 1 year low of $3.82 and a 1 year high of $12.00. The company’s 50-day moving average is $5.49 and its two-hundred day moving average is $6.06.

Insider Activity

In related news, Director David J. Matlin acquired 92,307 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average cost of $4.75 per share, with a total value of $438,458.25. Following the transaction, the director now owns 444,491 shares of the company’s stock, valued at $2,111,332.25. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Clene news, insider Mark Mortenson acquired 20,512 shares of the stock in a transaction dated Monday, September 30th. The shares were bought at an average cost of $4.75 per share, for a total transaction of $97,432.00. Following the completion of the acquisition, the insider now directly owns 28,949 shares of the company’s stock, valued at approximately $137,507.75. This trade represents a 200.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David J. Matlin bought 92,307 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost of $4.75 per share, with a total value of $438,458.25. Following the transaction, the director now owns 444,491 shares of the company’s stock, valued at $2,111,332.25. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Clene

A hedge fund recently bought a new stake in Clene stock. Castleview Partners LLC purchased a new stake in Clene Inc. (NASDAQ:CLNN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned approximately 0.19% of Clene as of its most recent SEC filing. 23.28% of the stock is currently owned by institutional investors.

Clene Company Profile

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.