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

HC Wainwright reissued their buy rating on shares of Clene (NASDAQ:CLNN) in a report released on Thursday morning,Benzinga reports. The firm currently has a $31.00 price target on the stock.

Several other brokerages have also recently weighed in on CLNN. Canaccord Genuity Group decreased their price objective on shares of Clene from $94.00 to $86.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. EF Hutton Acquisition Co. I raised Clene to a “strong-buy” rating in a report on Tuesday, September 10th.

Clene Price Performance

Shares of CLNN stock opened at $4.53 on Thursday. The stock’s fifty day simple moving average is $5.43 and its 200 day simple moving average is $5.99. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.83 and a quick ratio of 0.99. Clene has a one year low of $3.82 and a one year high of $12.00. The firm has a market cap of $37.87 million, a price-to-earnings ratio of -0.86 and a beta of 0.42.

Insider Buying and Selling

In other news, Director David J. Matlin acquired 92,307 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were purchased at an average cost of $4.75 per share, for a total transaction of $438,458.25. Following the transaction, the director now owns 444,491 shares of the company’s stock, valued at approximately $2,111,332.25. This represents a 26.21 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Mortenson acquired 20,512 shares of the company’s stock in a transaction on Monday, September 30th. The shares were purchased 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 directly owns 28,949 shares in the company, valued at approximately $137,507.75. The trade was a 243.12 % increase in their position. The disclosure for this purchase can be found here. 25.10% of the stock is owned by corporate insiders.

Institutional Trading of Clene

A hedge fund recently bought a new stake in Clene stock. Castleview Partners LLC purchased a new position in Clene Inc. (NASDAQ:CLNN) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm 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. Hedge funds and other institutional investors own 23.28% of the company’s stock.

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.