David J. Matlin Purchases 92,307 Shares of Clene Inc. (NASDAQ:CLNN) Stock

Clene Inc. (NASDAQ:CLNN) Director David J. Matlin purchased 92,307 shares of Clene stock in a transaction dated 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 acquisition, the director now owns 444,491 shares in the company, valued at approximately $2,111,332.25. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Clene Trading Up 1.2 %

NASDAQ:CLNN opened at $4.95 on Friday. The stock has a market capitalization of $31.79 million, a price-to-earnings ratio of -0.54 and a beta of 0.48. Clene Inc. has a 52 week low of $3.82 and a 52 week high of $13.20. 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 firm has a 50 day moving average of $5.17 and a 200 day moving average of $6.49.

Clene (NASDAQ:CLNN) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($1.06) EPS for the quarter, beating the consensus estimate of ($1.60) by $0.54. Clene had a negative return on equity of 315.97% and a negative net margin of 6,890.50%. The firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.10 million. As a group, sell-side analysts anticipate that Clene Inc. will post -5.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on CLNN shares. Canaccord Genuity Group reissued a “buy” rating and issued a $94.00 price objective on shares of Clene in a research note on Tuesday, August 6th. HC Wainwright reissued a “buy” rating and issued a $31.00 price target on shares of Clene in a research report on Monday, September 16th. Finally, EF Hutton Acquisition Co. I raised Clene to a “strong-buy” rating in a research report on Tuesday, September 10th.

Institutional Investors Weigh In On Clene

A hedge fund recently raised its stake in Clene stock. Csenge Advisory Group increased its stake in Clene Inc. (NASDAQ:CLNN) by 131.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,600 shares of the company’s stock after purchasing an additional 153,000 shares during the period. Csenge Advisory Group owned 0.21% of Clene worth $96,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds 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.