Clene (NASDAQ:CLNN) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Clene (NASDAQ:CLNN) in a research report released on Thursday,Benzinga reports. They currently have a $31.00 target price on the stock.

A number of other brokerages also recently issued reports on CLNN. EF Hutton Acquisition Co. I raised shares of Clene to a “strong-buy” rating in a research report on Tuesday, September 10th. Canaccord Genuity Group lowered their price objective on Clene from $94.00 to $86.00 and set a “buy” rating for the company in a research report on Friday, October 4th.

Clene Stock Down 3.4 %

Shares of NASDAQ:CLNN traded down $0.16 during trading hours on Thursday, hitting $4.53. The company’s stock had a trading volume of 76,407 shares, compared to its average volume of 70,773. The firm’s fifty day moving average price is $5.46 and its 200 day moving average price is $6.05. Clene has a 52 week low of $3.82 and a 52 week high of $12.00. The company has a market capitalization of $31.06 million, a price-to-earnings ratio of -0.88 and a beta of 0.42. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.99 and a quick ratio of 0.99.

Insider Buying and Selling

In other Clene news, insider Mark Mortenson acquired 20,512 shares of the company’s stock in a transaction on 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 completion of the acquisition, the insider now owns 28,949 shares in the company, valued at approximately $137,507.75. This trade represents a 243.12 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David J. Matlin bought 92,307 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were acquired at an average price of $4.75 per share, for a total transaction of $438,458.25. Following the transaction, the director now directly owns 444,491 shares in the company, valued at approximately $2,111,332.25. This represents a 26.21 % 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.

Hedge Funds Weigh In On Clene

A hedge fund recently bought a new stake in Clene stock. Castleview Partners LLC purchased a new position 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 institutional investor purchased 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned about 0.19% of Clene as of its most recent SEC filing. 23.28% of the stock is owned by hedge funds and other 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.