Clene Inc. (NASDAQ:CLNN) Director David J. Matlin Acquires 92,307 Shares

Clene Inc. (NASDAQ:CLNN) Director David J. Matlin purchased 92,307 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were acquired at an average cost of $4.75 per share, with a total value of $438,458.25. Following the completion of the purchase, the director now directly owns 444,491 shares in the company, valued at $2,111,332.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Clene Stock Up 9.3 %

CLNN traded up $0.43 during trading on Wednesday, reaching $5.03. 24,846 shares of the stock were exchanged, compared to its average volume of 71,768. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s 50 day moving average price is $5.16 and its two-hundred day moving average price is $6.50. Clene Inc. has a twelve month low of $3.82 and a twelve month high of $13.20. The stock has a market cap of $32.54 million, a P/E ratio of -0.54 and a beta of 0.49.

Clene (NASDAQ:CLNN) last issued 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. Clene had a negative net margin of 6,890.50% and a negative return on equity of 315.97%. The company had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.10 million. Equities analysts expect that Clene Inc. will post -5.26 EPS for the current year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Clene

A hedge fund recently raised its stake in Clene stock. Csenge Advisory Group boosted its stake in Clene Inc. (NASDAQ:CLNN) by 131.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund 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 filing with the SEC. Institutional investors and hedge funds 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.