Clene (NASDAQ:CLNN) Price Target Lowered to $84.00 at Benchmark

Clene (NASDAQ:CLNN) had its target price lowered by Benchmark from $90.00 to $84.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on CLNN. EF Hutton Acquisition Co. I upgraded Clene to a “strong-buy” rating in a research report on Tuesday, September 10th. HC Wainwright reaffirmed a “buy” rating and set a $31.00 price objective on shares of Clene in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group dropped their price objective on Clene from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, November 14th.

Clene Price Performance

Shares of NASDAQ CLNN opened at $4.08 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.82 and a current ratio of 0.83. Clene has a one year low of $3.82 and a one year high of $12.00. The company’s fifty day moving average is $5.21 and its two-hundred day moving average is $5.82. The firm has a market capitalization of $34.11 million, a P/E ratio of -0.77 and a beta of 0.42.

Insider Buying and Selling at Clene

In related news, 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 cost of $4.75 per share, with a total value of $438,458.25. Following the completion of the transaction, the director now owns 444,491 shares of the company’s stock, valued at approximately $2,111,332.25. The trade was a 26.21 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark Mortenson acquired 20,512 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average price 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. The trade was a 243.12 % 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 insiders.

Institutional Trading of Clene

A hedge fund recently bought a new stake in Clene stock. Castleview Partners LLC bought a new stake in shares of Clene Inc. (NASDAQ:CLNN) during the 3rd quarter, according to its most recent filing 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 as of its most recent filing with the SEC. 23.28% of the stock is owned by hedge funds and other institutional investors.

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.