Clene’s (CLNN) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Clene (NASDAQ:CLNN) in a report published on Thursday morning, Benzinga reports. The firm currently has a $31.00 target price on the stock.

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

Clene Stock Performance

Shares of NASDAQ:CLNN opened at $5.35 on Thursday. The firm’s 50 day simple moving average is $5.42 and its 200-day simple moving average is $6.15. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.99 and a current ratio of 0.99. Clene has a one year low of $3.82 and a one year high of $12.00. The firm has a market cap of $34.36 million, a PE ratio of -0.58 and a beta of 0.48.

Clene (NASDAQ:CLNN) last posted its earnings results on Wednesday, August 7th. The company reported ($1.06) EPS for the quarter, beating analysts’ consensus estimates of ($1.60) by $0.54. The business had revenue of $0.09 million for 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%. As a group, equities analysts predict that Clene will post -5.26 EPS for the current year.

Insider Activity at Clene

In related news, Director David J. Matlin acquired 92,307 shares of the stock in a transaction on Monday, September 30th. The shares were acquired at an average price of $4.75 per share, for a total transaction of $438,458.25. Following the transaction, the director now owns 444,491 shares in the company, valued at approximately $2,111,332.25. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Clene news, insider Mark Mortenson acquired 20,512 shares of the company’s stock in a transaction on Monday, September 30th. The shares were bought at an average cost of $4.75 per share, with a total value of $97,432.00. Following the completion of the acquisition, the insider now owns 28,949 shares in the company, valued at approximately $137,507.75. This trade represents a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 of the company’s stock, valued at approximately $2,111,332.25. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 25.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Clene stock. Castleview Partners LLC bought a new position in Clene Inc. (NASDAQ:CLNN) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned approximately 0.19% of Clene at the end of the most recent reporting period. 23.28% of the stock is owned by institutional investors and hedge funds.

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.