Clene (NASDAQ:CLNN) Given “Buy” Rating at D. Boral Capital

D. Boral Capital restated their buy rating on shares of Clene (NASDAQ:CLNN) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $23.00 price objective on the stock.

A number of other equities analysts have also recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $31.00 price objective on shares of Clene in a research report on Thursday, November 14th. Canaccord Genuity Group reduced their price objective on shares of Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. EF Hutton Acquisition Co. I raised shares of Clene to a “strong-buy” rating in a research note on Tuesday, September 10th. Finally, Benchmark reduced their price objective on shares of Clene from $90.00 to $84.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Clene currently has an average rating of “Buy” and an average price target of $55.25.

Clene Stock Performance

NASDAQ CLNN traded up $0.03 during trading on Thursday, reaching $4.33. The company’s stock had a trading volume of 3,972 shares, compared to its average volume of 74,352. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $36.20 million, a price-to-earnings ratio of -0.82 and a beta of 0.32. Clene has a 12 month low of $3.82 and a 12 month high of $11.00. The firm has a 50 day moving average price of $5.00 and a 200 day moving average price of $5.48.

Insider Activity

In related news, insider Mark Mortenson acquired 20,512 shares of the 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 transaction, the insider now owns 28,949 shares in the company, valued at $137,507.75. This represents a 243.12 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David J. Matlin acquired 92,307 shares of the stock in a transaction dated 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 transaction, the director now owns 444,491 shares in the company, valued at approximately $2,111,332.25. This represents a 26.21 % increase in their position. The disclosure for this purchase can be found here. Insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Clene

An institutional investor recently bought a new position in Clene stock. Castleview Partners LLC bought a new position in Clene Inc. (NASDAQ:CLNN) in the 3rd quarter, according to its most recent disclosure with the 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 at the end of the most recent quarter. Institutional investors and hedge funds own 23.28% of the company’s stock.

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.