Clene (NASDAQ:CLNN) Price Target Cut to $84.00 by Analysts at Benchmark

Clene (NASDAQ:CLNN) had its price target reduced by Benchmark from $90.00 to $84.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $31.00 price target on shares of Clene in a report on Thursday, November 14th. EF Hutton Acquisition Co. I upgraded shares of Clene to a “strong-buy” rating in a report on Tuesday, September 10th. Finally, Canaccord Genuity Group lowered their target price on shares of Clene from $86.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

Clene Trading Up 4.0 %

Shares of CLNN opened at $4.17 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.82 and a current ratio of 0.83. The company has a 50-day moving average of $5.24 and a two-hundred day moving average of $5.88. Clene has a 12-month low of $3.82 and a 12-month high of $12.00.

Insider Buying and Selling at Clene

In related news, insider Mark Mortenson purchased 20,512 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost of $4.75 per share, for a total transaction of $97,432.00. Following the completion of the acquisition, the insider now owns 28,949 shares in the company, valued at $137,507.75. This trade represents a 243.12 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David J. Matlin purchased 92,307 shares of the firm’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 $438,458.25. Following the completion of 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 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 third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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. Hedge funds and other institutional investors own 23.28% of the company’s stock.

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.