Canaccord Genuity Group Cuts Clene (NASDAQ:CLNN) Price Target to $83.00

Clene (NASDAQ:CLNN) had its price objective reduced by investment analysts at Canaccord Genuity Group from $86.00 to $83.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

A number of other brokerages also recently issued reports on CLNN. EF Hutton Acquisition Co. I raised shares of Clene to a “strong-buy” rating in a research report on Tuesday, September 10th. HC Wainwright reissued a “buy” rating and issued a $31.00 price target on shares of Clene in a research note on Thursday.

Clene Trading Up 2.5 %

NASDAQ CLNN traded up $0.12 on Thursday, hitting $4.94. The company’s stock had a trading volume of 19,354 shares, compared to its average volume of 70,492. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.66. Clene has a 52-week low of $3.82 and a 52-week high of $12.00. The firm has a market cap of $33.89 million, a P/E ratio of -1.09 and a beta of 0.42. The company’s 50-day simple moving average is $5.49 and its 200 day simple moving average is $6.06.

Insider Buying and Selling

In other news, Director David J. Matlin acquired 92,307 shares of the stock in a transaction on Monday, September 30th. The stock was acquired at an average price 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 of the company’s stock, valued at $2,111,332.25. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Clene news, Director David J. Matlin acquired 92,307 shares of the business’s stock in a transaction on Monday, September 30th. The shares were acquired at an average price of $4.75 per share, for a total transaction of $438,458.25. Following the completion of the acquisition, the director now owns 444,491 shares in the company, valued at $2,111,332.25. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, with a total value of $97,432.00. Following the completion of the acquisition, the insider now directly 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. 25.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Clene

A hedge fund recently bought a new stake in Clene stock. Castleview Partners LLC bought a new position in Clene Inc. (NASDAQ:CLNN) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 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 filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 23.28% of the company’s stock.

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.