Parsons Capital Management Inc. RI Buys Shares of 36,500 Clene Inc. (NASDAQ:CLNN)

Parsons Capital Management Inc. RI purchased a new position in Clene Inc. (NASDAQ:CLNN) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 36,500 shares of the company’s stock, valued at approximately $194,000.

Separately, Castleview Partners LLC bought a new stake in Clene during the third quarter worth approximately $59,000. 23.28% of the stock is currently owned by institutional investors.

Clene Stock Performance

NASDAQ CLNN opened at $4.72 on Wednesday. Clene Inc. has a fifty-two week low of $3.82 and a fifty-two week high of $10.76. The stock’s 50-day moving average is $4.72 and its two-hundred day moving average is $5.06.

Analyst Ratings Changes

CLNN has been the subject of a number of research reports. Benchmark decreased their price target on Clene from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. HC Wainwright reaffirmed a “buy” rating and set a $31.00 target price on shares of Clene in a report on Thursday, November 14th. D. Boral Capital reissued a “buy” rating and issued a $23.00 price target on shares of Clene in a report on Thursday, December 19th. Finally, Canaccord Genuity Group lowered 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. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $55.25.

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.