Benchmark Cuts Clene (NASDAQ:CLNN) Price Target to $84.00

Clene (NASDAQ:CLNN) had its price objective lowered by Benchmark from $90.00 to $84.00 in a report published on Friday morning,Benzinga reports. Benchmark currently has a buy rating on the stock.

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

Clene Price Performance

Shares of Clene stock opened at $4.17 on Friday. The stock has a market capitalization of $34.86 million, a price-to-earnings ratio of -0.79 and a beta of 0.42. The company has a fifty day moving average of $5.24 and a 200-day moving average of $5.85. Clene has a 52-week low of $3.82 and a 52-week high of $12.00. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.82 and a current ratio of 0.83.

Insider Buying and Selling at Clene

In related news, insider Mark Mortenson purchased 20,512 shares of the business’s stock in a transaction that occurred on 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 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David J. Matlin bought 92,307 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was bought 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 owns 444,491 shares in the company, valued at approximately $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 currently owned by corporate insiders.

Hedge Funds Weigh In On Clene

A hedge fund recently bought a new stake in Clene stock. Castleview Partners LLC acquired a new stake in shares of Clene Inc. (NASDAQ:CLNN) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned approximately 0.19% of Clene as of its most recent filing with the SEC. 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.