Castleview Partners LLC Makes New Investment in Clene Inc. (NASDAQ:CLNN)

Castleview Partners LLC bought a new stake in shares of Clene Inc. (NASDAQ:CLNN) during the third quarter, Holdings Channel.com reports. The fund bought 12,783 shares of the company’s stock, valued at approximately $59,000.

Separately, Csenge Advisory Group boosted its position in Clene by 131.2% during the 2nd quarter. Csenge Advisory Group now owns 269,600 shares of the company’s stock valued at $96,000 after acquiring an additional 153,000 shares in the last quarter. Hedge funds and other institutional investors own 23.28% of the company’s stock.

Insider Transactions at Clene

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

Analysts Set New Price Targets

CLNN has been the subject of a number of research analyst reports. HC Wainwright restated a “buy” rating and issued a $31.00 target price on shares of Clene in a research note on Monday, September 16th. EF Hutton Acquisition Co. I raised Clene to a “strong-buy” rating in a research report on Tuesday, September 10th. Finally, Canaccord Genuity Group reduced their target price on shares of Clene from $94.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday, October 4th.

Clene Price Performance

CLNN stock opened at $5.71 on Tuesday. 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 firm has a 50 day moving average price of $5.39 and a 200-day moving average price of $6.22. Clene Inc. has a 52-week low of $3.82 and a 52-week high of $12.00. The firm has a market capitalization of $39.17 million, a price-to-earnings ratio of -1.28 and a beta of 0.48.

Clene (NASDAQ:CLNN) last announced its quarterly earnings data 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 return on equity of 315.97% and a negative net margin of 6,890.50%. The business had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.10 million. Equities research analysts forecast that Clene Inc. will post -5.26 EPS for the current fiscal year.

Clene 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.