Clene (NASDAQ:CLNN) PT Lowered to $86.00

Clene (NASDAQ:CLNN) had its target price reduced by Canaccord Genuity Group from $94.00 to $86.00 in a research report released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. EF Hutton Acquisition Co. I upgraded shares of Clene to a strong-buy rating in a research note on Tuesday, September 10th. HC Wainwright reissued a buy rating and set a $31.00 price objective on shares of Clene in a research note on Monday, September 16th.

Clene Stock Performance

Clene stock traded up $0.35 during mid-day trading on Friday, reaching $5.30. 126,103 shares of the company’s stock were exchanged, compared to its average volume of 84,646. The firm has a market capitalization of $36.36 million, a PE ratio of -0.58 and a beta of 0.48. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.66. The business’s fifty day simple moving average is $5.18 and its 200 day simple moving average is $6.48. Clene has a one year low of $3.82 and a one year high of $13.20.

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

Insider Activity at Clene

In other Clene news, insider Mark Mortenson acquired 20,512 shares of the company’s stock in a transaction on Monday, September 30th. The stock was acquired at an average price of $4.75 per share, for a total transaction of $97,432.00. Following the acquisition, the insider now owns 28,949 shares in the company, valued at $137,507.75. This represents a 200.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director David J. Matlin bought 92,307 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were purchased 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 owns 444,491 shares in the company, valued at approximately $2,111,332.25. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Mortenson purchased 20,512 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average price 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 trade was a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 25.10% of the stock is currently owned by company insiders.

Institutional Trading of Clene

An institutional investor recently raised its position in Clene stock. Csenge Advisory Group increased its stake in Clene Inc. (NASDAQ:CLNN) by 131.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 269,600 shares of the company’s stock after purchasing an additional 153,000 shares during the quarter. Csenge Advisory Group owned 0.21% of Clene worth $96,000 at the end of the most recent quarter. 23.28% of the stock is currently owned by institutional investors and hedge funds.

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.