Clene (NASDAQ:CLNN) Earns Buy Rating from D. Boral Capital

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reissued by research analysts at D. Boral Capital in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $23.00 price objective on the stock. D. Boral Capital’s price objective points to a potential upside of 422.73% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Benchmark decreased their target price on shares of Clene from $90.00 to $84.00 and set a “buy” rating for the company in a report on Friday, November 22nd. EF Hutton Acquisition Co. I raised Clene to a “strong-buy” rating in a research report on Tuesday, September 10th. Canaccord Genuity Group reduced 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $31.00 price target on shares of Clene in a report on Thursday, November 14th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $55.25.

Clene Price Performance

Shares of NASDAQ:CLNN opened at $4.40 on Thursday. The business has a fifty day moving average price of $4.98 and a 200-day moving average price of $5.47. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market capitalization of $36.78 million, a PE ratio of -0.83 and a beta of 0.32. Clene has a 1-year low of $3.82 and a 1-year high of $11.00.

Insider Buying and Selling

In other news, insider Mark Mortenson bought 20,512 shares of the company’s stock in a transaction on Monday, September 30th. The shares were acquired at an average cost of $4.75 per share, with a total value of $97,432.00. Following the completion of the transaction, the insider now owns 28,949 shares of the company’s stock, valued at approximately $137,507.75. This trade represents a 243.12 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David J. Matlin purchased 92,307 shares of the business’s stock in a transaction on Monday, September 30th. The shares were purchased at an average price of $4.75 per share, with a total value of $438,458.25. Following the completion of the purchase, the director now owns 444,491 shares in the company, valued at approximately $2,111,332.25. This trade 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.

Institutional Trading of Clene

A hedge fund recently bought a new stake in Clene stock. Castleview Partners LLC acquired a new position in Clene Inc. (NASDAQ:CLNN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 reporting period. 23.28% of the stock is owned by institutional investors and hedge funds.

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.