Clene (NASDAQ:CLNN) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Clene (NASDAQ:CLNN) in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a $31.00 price target on the stock.

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

Clene Trading Down 3.4 %

Clene stock traded down $0.16 during midday trading on Thursday, hitting $4.53. 76,407 shares of the stock were exchanged, compared to its average volume of 70,773. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.66. The stock’s 50-day simple moving average is $5.46 and its 200 day simple moving average is $6.05. Clene has a fifty-two week low of $3.82 and a fifty-two week high of $12.00. The stock has a market capitalization of $31.06 million, a price-to-earnings ratio of -0.88 and a beta of 0.42.

Insider Activity at Clene

In other news, insider Mark Mortenson bought 20,512 shares of the stock in a transaction dated Monday, September 30th. The shares were acquired at an average price of $4.75 per share, with a total value of $97,432.00. Following the completion of the acquisition, the insider now directly owns 28,949 shares in the company, valued at approximately $137,507.75. The trade was a 243.12 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David J. Matlin acquired 92,307 shares of the stock in a transaction on Monday, September 30th. The stock was acquired at an average cost of $4.75 per share, for a total transaction of $438,458.25. Following the acquisition, the director now directly owns 444,491 shares in the company, valued at $2,111,332.25. This represents a 26.21 % increase in their position. The disclosure for this purchase can be found here. 25.10% of the stock is owned by corporate insiders.

Hedge Funds 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 its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned 0.19% of Clene at the end of the most recent quarter. 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.