Insider Buying: Clene Inc. (NASDAQ:CLNN) Insider Acquires 20,512 Shares of Stock

Clene Inc. (NASDAQ:CLNN) insider Mark Mortenson purchased 20,512 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were bought at an average cost of $4.75 per share, with a total value of $97,432.00. Following the transaction, the insider now directly owns 28,949 shares of the company’s stock, valued at approximately $137,507.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Clene Stock Performance

Clene stock opened at $4.89 on Thursday. The company has a market cap of $31.64 million, a PE ratio of -0.53 and a beta of 0.49. The company has a fifty day moving average price of $5.17 and a two-hundred day moving average price of $6.49. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.99 and a quick ratio of 0.99. Clene Inc. has a 12 month low of $3.82 and a 12 month high of $13.20.

Clene (NASDAQ:CLNN) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($1.06) EPS for the quarter, topping analysts’ consensus estimates of ($1.60) by $0.54. The firm had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.10 million. Clene had a negative net margin of 6,890.50% and a negative return on equity of 315.97%. Research analysts expect that Clene Inc. will post -5.26 earnings per share for the current year.

Hedge Funds Weigh In On Clene

A hedge fund recently raised its stake in Clene stock. Csenge Advisory Group grew its position in shares of Clene Inc. (NASDAQ:CLNN) by 131.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 269,600 shares of the company’s stock after acquiring an additional 153,000 shares during the quarter. Csenge Advisory Group owned about 0.21% of Clene worth $96,000 as of its most recent filing with the SEC. 23.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CLNN shares. EF Hutton Acquisition Co. I raised shares of Clene to a “strong-buy” rating in a research report on Tuesday, September 10th. HC Wainwright reissued a “buy” rating and set a $31.00 price target on shares of Clene in a research report on Monday, September 16th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $94.00 price target on shares of Clene in a research report on Tuesday, August 6th.

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.