Clene (NASDAQ:CLNN) Receives “Buy” Rating from HC Wainwright

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They presently have a $31.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 474.07% from the company’s current price.

Several other brokerages also recently weighed in on CLNN. EF Hutton Acquisition Co. I upgraded shares of Clene to a “strong-buy” rating in a research note on Tuesday, September 10th. Canaccord Genuity Group reduced their target price 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 Trading Down 1.8 %

Shares of CLNN stock opened at $5.40 on Thursday. The company has a market cap of $37.04 million, a PE ratio of -1.21 and a beta of 0.48. Clene has a 1 year low of $3.82 and a 1 year high of $12.00. The stock’s 50 day simple moving average is $5.41 and its two-hundred day simple moving average is $6.19. 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 released its earnings results on Wednesday, August 7th. The company reported ($1.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.60) by $0.54. The firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.10 million. Clene had a negative net margin of 6,890.50% and a negative return on equity of 315.97%. Research analysts predict that Clene will post -5.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David J. Matlin bought 92,307 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 444,491 shares in the company, valued at approximately $2,111,332.25. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Clene news, insider Mark Mortenson acquired 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 completion of the purchase, the insider now directly owns 28,949 shares of the company’s stock, valued at $137,507.75. The trade was a 200.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David J. Matlin bought 92,307 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were 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 $2,111,332.25. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Clene

A hedge fund recently bought a new stake in Clene stock. Castleview Partners LLC bought a new position in shares of Clene Inc. (NASDAQ:CLNN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned 0.19% of Clene as of its most recent SEC filing. 23.28% of the stock is currently owned by institutional investors.

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.