HC Wainwright Reiterates “Buy” Rating for Clene (NASDAQ:CLNN)

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a report issued on Thursday,Benzinga reports. They presently have a $31.00 target price on the stock.

Other equities analysts have also issued research reports about the company. Canaccord Genuity Group dropped their target price on Clene from $94.00 to $86.00 and set a “buy” rating on the stock in a report on Friday, October 4th. EF Hutton Acquisition Co. I upgraded Clene to a “strong-buy” rating in a report on Tuesday, September 10th.

Clene Trading Down 3.4 %

Shares of NASDAQ:CLNN opened at $4.53 on Thursday. Clene has a 52 week low of $3.82 and a 52 week high of $12.00. The company’s 50 day moving average is $5.43 and its two-hundred day moving average is $6.03. The company has a market cap of $31.06 million, a PE ratio of -0.86 and a beta of 0.42. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.66.

Insider Activity

In other news, insider Mark Mortenson purchased 20,512 shares of the business’s 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 $97,432.00. Following the completion of the transaction, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David J. Matlin acquired 92,307 shares of Clene stock in a transaction on Monday, September 30th. The stock was purchased at an average price of $4.75 per share, with a total value of $438,458.25. Following the purchase, the director now owns 444,491 shares of the company’s stock, valued at $2,111,332.25. The trade was a 26.21 % increase in their position. The disclosure for this purchase can be found here. Company 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 acquired a new position in shares of Clene Inc. (NASDAQ:CLNN) during the 3rd quarter, according to its most recent Form 13F filing with the 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 SEC. 23.28% of the stock is currently owned by hedge funds and other institutional investors.

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.