Clene’s (CLNN) “Buy” Rating Reiterated at D. Boral Capital

D. Boral Capital reissued their buy rating on shares of Clene (NASDAQ:CLNN) in a report issued on Tuesday,Benzinga reports. They currently have a $23.00 price objective on the stock.

A number of other research firms also recently issued reports on CLNN. HC Wainwright restated a “buy” rating and set a $31.00 target price on shares of Clene in a research report on Thursday, November 14th. Canaccord Genuity Group cut their price objective on shares of Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Benchmark lowered their target price on shares of Clene from $90.00 to $84.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, EF Hutton Acquisition Co. I raised Clene to a “strong-buy” rating in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Clene currently has an average rating of “Buy” and an average target price of $55.25.

Clene Stock Performance

CLNN opened at $4.96 on Tuesday. Clene has a 1-year low of $3.82 and a 1-year high of $12.00. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a 50-day moving average price of $5.09 and a two-hundred day moving average price of $5.57.

Insiders Place Their Bets

In other news, insider Mark Mortenson purchased 20,512 shares of the company’s stock in a transaction on Monday, September 30th. The shares were purchased at an average price of $4.75 per share, with a total value of $97,432.00. Following the purchase, the insider now directly owns 28,949 shares of the company’s stock, valued at $137,507.75. This trade represents a 243.12 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David J. Matlin acquired 92,307 shares of Clene stock in a transaction dated Monday, September 30th. The shares were purchased at an average cost of $4.75 per share, with a total value of $438,458.25. Following the completion of the transaction, the director now directly owns 444,491 shares of the company’s stock, valued at $2,111,332.25. This trade represents a 26.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Clene

An institutional investor recently bought a new position in Clene stock. Castleview Partners LLC bought a new position in shares of Clene Inc. (NASDAQ:CLNN) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 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 filing with the Securities & Exchange Commission. Institutional investors own 23.28% of the company’s stock.

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 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.