Clene’s (CLNN) “Buy” Rating Reiterated at HC Wainwright

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

Other research analysts have also issued reports about the stock. Canaccord Genuity Group dropped 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 shares of Clene to a “strong-buy” rating in a research report on Tuesday, September 10th.

Clene Price Performance

Shares of CLNN opened at $4.53 on Thursday. The business’s fifty day moving average is $5.43 and its 200 day moving average is $6.01. Clene has a 12-month low of $3.82 and a 12-month high of $12.00. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.66. The stock has a market cap of $31.06 million, a P/E ratio of -0.86 and a beta of 0.42.

Insider Buying and Selling at Clene

In other news, Director David J. Matlin acquired 92,307 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was purchased at an average price of $4.75 per share, for a total transaction of $438,458.25. Following the purchase, the director now owns 444,491 shares in the company, valued at approximately $2,111,332.25. This represents a 26.21 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark Mortenson bought 20,512 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was acquired at an average price of $4.75 per share, for a total transaction of $97,432.00. Following the purchase, 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 ownership of the stock. 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

An institutional investor recently bought a new position in Clene stock. Castleview Partners LLC acquired a new position in shares of Clene Inc. (NASDAQ:CLNN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 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 and Exchange Commission (SEC). 23.28% of the stock is currently owned by institutional investors.

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.