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

HC Wainwright reiterated their buy rating on shares of Clene (NASDAQ:CLNN) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $31.00 target price on the stock.

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

Clene Stock Down 3.4 %

CLNN stock opened at $4.53 on Thursday. The stock has a fifty day moving average of $5.43 and a 200-day moving average of $6.01. Clene has a fifty-two week low of $3.82 and a fifty-two week high of $12.00. The company has a market capitalization of $31.06 million, a price-to-earnings ratio of -0.86 and a beta of 0.42. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.99 and a current ratio of 0.99.

Insider Buying and Selling at Clene

In other news, Director David J. Matlin bought 92,307 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average price of $4.75 per share, with a total value of $438,458.25. Following the acquisition, the director now owns 444,491 shares of the company’s stock, valued at approximately $2,111,332.25. The trade was a 26.21 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Mortenson bought 20,512 shares of the 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 $97,432.00. Following the completion of the purchase, the insider now directly owns 28,949 shares in the company, valued at approximately $137,507.75. This represents a 243.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Clene

An institutional investor recently raised its position in Clene stock. Csenge Advisory Group raised its holdings in Clene Inc. (NASDAQ:CLNN) by 131.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 269,600 shares of the company’s stock after acquiring an additional 153,000 shares during the period. Csenge Advisory Group owned approximately 0.21% of Clene worth $96,000 at the end of the most recent reporting period. Institutional investors 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.