Clene (NASDAQ:CLNN) Price Target Lowered to $83.00 at Canaccord Genuity Group

Clene (NASDAQ:CLNN) had its target price cut by equities researchers at Canaccord Genuity Group from $86.00 to $83.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Several other equities research analysts have also commented on the stock. EF Hutton Acquisition Co. I upgraded shares of Clene to a “strong-buy” rating in a research note on Tuesday, September 10th. HC Wainwright restated a “buy” rating and issued a $31.00 target price on shares of Clene in a research report on Thursday.

Clene Stock Down 3.4 %

CLNN stock opened at $4.53 on Thursday. The stock has a market cap of $31.06 million, a PE ratio of -0.86 and a beta of 0.42. The firm’s 50-day simple moving average is $5.43 and its 200 day simple moving average is $6.03. Clene has a fifty-two week low of $3.82 and a fifty-two week high of $12.00. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.66.

Insider Buying and Selling at Clene

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Clene stock. Castleview Partners LLC acquired a new stake in shares of Clene Inc. (NASDAQ:CLNN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned approximately 0.19% of Clene at the end of the most recent quarter. 23.28% of the stock is owned by institutional investors and hedge funds.

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.