Clene (NASDAQ:CLNN) Price Target Lowered to $84.00 at Benchmark

Clene (NASDAQ:CLNN) had its price objective lowered by Benchmark from $90.00 to $84.00 in a research note released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued reports about the company. HC Wainwright reissued a “buy” rating and set a $31.00 price target on shares of Clene in a research note on Thursday, November 14th. EF Hutton Acquisition Co. I upgraded Clene to a “strong-buy” rating in a report on Tuesday, September 10th. Finally, Canaccord Genuity Group lowered their target price on Clene from $86.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

Clene Stock Performance

CLNN stock opened at $4.17 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.66. Clene has a fifty-two week low of $3.82 and a fifty-two week high of $12.00. The business’s fifty day moving average price is $5.24 and its two-hundred day moving average price is $5.88.

Insider Activity at Clene

In other news, Director David J. Matlin acquired 92,307 shares of the business’s stock in a transaction dated 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 acquisition, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Mortenson bought 20,512 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were bought 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 $137,507.75. This trade represents a 243.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 25.10% of the stock is currently 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 third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned about 0.19% of Clene at the end of the most recent quarter. 23.28% of the stock is currently owned by institutional investors.

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.