Clene (NASDAQ:CLNN) Given “Buy” Rating at HC Wainwright

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research report issued on Thursday, Benzinga reports. They currently have a $31.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 479.44% from the company’s previous close.

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

Clene Stock Performance

Shares of CLNN opened at $5.35 on Thursday. Clene has a 1 year low of $3.82 and a 1 year high of $12.00. The stock has a market capitalization of $36.70 million, a PE ratio of -1.20 and a beta of 0.48. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a 50-day simple moving average of $5.42 and a 200-day simple moving average of $6.17.

Clene (NASDAQ:CLNN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($1.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.60) by $0.54. Clene had a negative net margin of 6,890.50% and a negative return on equity of 315.97%. The company had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.10 million. On average, analysts predict that Clene will post -5.26 earnings per share for the current fiscal year.

Insider Activity

In related news, Director David J. Matlin purchased 92,307 shares of Clene stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $4.75 per share, with a total value of $438,458.25. Following the completion of the transaction, the director now directly owns 444,491 shares in the company, valued at approximately $2,111,332.25. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director David J. Matlin purchased 92,307 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average price of $4.75 per share, for a total transaction of $438,458.25. Following the purchase, the director now directly owns 444,491 shares of the company’s stock, valued at $2,111,332.25. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Mortenson bought 20,512 shares of the 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 $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. The trade was a 200.00 % 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 acquired a new stake in Clene Inc. (NASDAQ:CLNN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned 0.19% of Clene as of its most recent filing with the Securities and Exchange Commission. 23.28% of the stock is currently 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.