Clene (NASDAQ:CLNN) Price Target Lowered to $84.00 at Benchmark

Clene (NASDAQ:CLNN) had its target price decreased by investment analysts at Benchmark from $90.00 to $84.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock.

A number of other analysts have also recently weighed in on CLNN. EF Hutton Acquisition Co. I raised Clene to a “strong-buy” rating in a research report on Tuesday, September 10th. Canaccord Genuity Group lowered their target price on shares of Clene from $86.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $31.00 price target on shares of Clene in a report on Thursday, November 14th.

Clene Stock Performance

NASDAQ:CLNN traded up $0.09 on Friday, hitting $4.10. The stock had a trading volume of 5,982 shares, compared to its average volume of 70,840. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.66. The stock has a market cap of $34.28 million, a price-to-earnings ratio of -0.76 and a beta of 0.42. Clene has a 52-week low of $3.82 and a 52-week high of $12.00. The business’s 50-day simple moving average is $5.29 and its two-hundred day simple moving average is $5.91.

Insider Buying and Selling at Clene

In other Clene news, Director David J. Matlin purchased 92,307 shares of Clene stock in a transaction on Monday, September 30th. The shares were bought at an average price of $4.75 per share, with a total value of $438,458.25. Following the purchase, the director now directly owns 444,491 shares in the company, valued at $2,111,332.25. This trade represents a 26.21 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Mortenson acquired 20,512 shares of the stock in a transaction dated Monday, September 30th. The shares were bought at an average cost of $4.75 per share, with a total value 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 trade 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.

Hedge Funds Weigh In On Clene

An institutional investor recently bought a new position in Clene stock. Castleview Partners LLC purchased a new stake in shares of Clene Inc. (NASDAQ:CLNN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned about 0.19% of Clene at the end of the most recent quarter. 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.