Clene (NASDAQ:CLNN) Shares Gap Down to $11.85

Clene Inc. (NASDAQ:CLNN)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $11.85, but opened at $11.58. Clene shares last traded at $11.55, with a volume of 308 shares trading hands.

Several analysts recently issued reports on CLNN shares. Cantor Fitzgerald assumed coverage on shares of Clene in a report on Monday, May 3rd. They set an “overweight” rating and a $22.00 price objective for the company. Zacks Investment Research lowered Clene from a “hold” rating to a “sell” rating in a research note on Monday, May 17th. Benchmark assumed coverage on Clene in a research report on Tuesday, March 2nd. They set a “buy” rating and a $25.00 price objective for the company. Finally, Maxim Group assumed coverage on Clene in a report on Thursday, May 20th. They issued a “buy” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $19.80.

The firm has a market cap of $688.08 million, a PE ratio of -9.63 and a beta of 0.06. The company has a current ratio of 13.06, a quick ratio of 12.97 and a debt-to-equity ratio of 6.32. The business has a 50 day moving average price of $10.38.

In related news, Director David J. Matlin bought 207,684 shares of the company’s stock in a transaction dated Monday, May 24th. The stock was acquired at an average cost of $9.63 per share, with a total value of $1,999,996.92. Following the acquisition, the director now owns 32,393 shares in the company, valued at approximately $311,944.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 21.20% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Clene during the first quarter valued at $1,491,000. Kepos Capital LP acquired a new stake in shares of Clene during the 4th quarter worth about $2,372,000. Walleye Trading LLC acquired a new position in Clene in the fourth quarter valued at about $143,000. Basso Capital Management L.P. acquired a new stake in shares of Clene during the fourth quarter worth approximately $29,000. Finally, Bluefin Capital Management LLC acquired a new stake in shares of Clene during the fourth quarter worth approximately $139,000. Hedge funds and other institutional investors own 4.15% of the company’s stock.

Clene Company Profile (NASDAQ:CLNN)

Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean surfaced nanotechnology (CSN) therapeutics. The company has a nanotechnology drug suspension; and engages in the development and commercialization of dietary supplements. Its lead drug is CNM-Au8, which is being studied in various clinical trials, including a Phase 2 study for the treatment of stable multiple sclerosis; a Phase 2 biomarker study in Parkinson's; and Phase 2 and Phase 3 trials to investigate the potential for disease modification for neurodegenerative diseases.

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