Clene (NASDAQ:CLNN) Given New $84.00 Price Target at Benchmark

Clene (NASDAQ:CLNN) had its price objective decreased by research analysts at Benchmark from $90.00 to $84.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Several other brokerages also recently issued reports on CLNN. Canaccord Genuity Group reduced their price objective on shares of Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. HC Wainwright reaffirmed a “buy” rating and set a $31.00 price target on shares of Clene in a research report on Thursday, November 14th. Finally, EF Hutton Acquisition Co. I raised shares of Clene to a “strong-buy” rating in a research report on Tuesday, September 10th.

Clene Stock Performance

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 market capitalization of $34.86 million, a price-to-earnings ratio of -0.79 and a beta of 0.42. The company’s 50 day simple moving average is $5.24 and its 200 day simple moving average is $5.86. Clene has a 1 year low of $3.82 and a 1 year high of $12.00.

Insider Activity at Clene

In other news, insider Mark Mortenson purchased 20,512 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost of $4.75 per share, with a total value of $97,432.00. Following 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David J. Matlin purchased 92,307 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average cost 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 in the company, valued at approximately $2,111,332.25. This represents a 26.21 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Clene

A hedge fund recently bought a new stake in Clene stock. Castleview Partners LLC purchased a new stake in shares of Clene Inc. (NASDAQ:CLNN) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 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.