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

HC Wainwright reiterated 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.

A number of other equities research analysts have also recently commented on CLNN. Canaccord Genuity Group lowered 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 upgraded Clene to a “strong-buy” rating in a research report on Tuesday, September 10th.

Clene Trading Up 1.5 %

Shares of Clene stock opened at $5.35 on Thursday. The company has a 50-day moving average of $5.42 and a two-hundred day moving average of $6.16. The stock has a market cap of $34.36 million, a PE ratio of -0.58 and a beta of 0.48. 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 12-month low of $3.82 and a 12-month high of $12.00.

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

Insider Buying and Selling at Clene

In other news, Director David J. Matlin acquired 92,307 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, with a total value of $438,458.25. Following the completion of the transaction, the director now directly owns 444,491 shares in the company, valued at approximately $2,111,332.25. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Clene news, Director David J. Matlin bought 92,307 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $4.75 per share, for a total transaction of $438,458.25. Following the completion of the purchase, the director now owns 444,491 shares of the company’s stock, valued at $2,111,332.25. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Mortenson bought 20,512 shares of Clene stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average price of $4.75 per share, for a total transaction of $97,432.00. Following the completion of the transaction, the insider now directly owns 28,949 shares of the company’s stock, valued at $137,507.75. This trade represents 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 raised its stake in Clene stock. Csenge Advisory Group lifted its stake in Clene Inc. (NASDAQ:CLNN) by 131.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 269,600 shares of the company’s stock after buying an additional 153,000 shares during the period. Csenge Advisory Group owned approximately 0.21% of Clene worth $96,000 as of its most recent SEC filing. Hedge funds and other 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.