Insider Buying: Clene Inc. (NASDAQ:CLNN) Insider Purchases 20,512 Shares of Stock

Clene Inc. (NASDAQ:CLNN) insider Mark Mortenson acquired 20,512 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average cost of $4.75 per share, for a total transaction of $97,432.00. Following the acquisition, the insider now owns 28,949 shares of the company’s stock, valued at approximately $137,507.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Clene Price Performance

Shares of NASDAQ CLNN traded up $0.01 on Tuesday, hitting $4.60. The company’s stock had a trading volume of 55,205 shares, compared to its average volume of 72,016. The stock has a 50 day moving average of $5.16 and a 200-day moving average of $6.53. The company has a market capitalization of $29.76 million, a price-to-earnings ratio of -0.50 and a beta of 0.49. Clene Inc. has a 12-month low of $3.82 and a 12-month high of $13.20. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.99 and a quick ratio of 0.99.

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

Institutional Trading of Clene

An institutional investor recently raised its position in Clene stock. Csenge Advisory Group raised its position in Clene Inc. (NASDAQ:CLNN) by 131.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and 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 about 0.21% of Clene worth $96,000 at the end of the most recent reporting period. 23.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.