Canaccord Genuity Group Has Lowered Expectations for Clene (NASDAQ:CLNN) Stock Price

Clene (NASDAQ:CLNN) had its price objective decreased by research analysts at Canaccord Genuity Group from $86.00 to $83.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

CLNN has been the subject of several other research reports. EF Hutton Acquisition Co. I upgraded shares of Clene to a “strong-buy” rating in a research note on Tuesday, September 10th. HC Wainwright reaffirmed a “buy” rating and set a $31.00 price target on shares of Clene in a research report on Thursday.

Clene Stock Up 2.5 %

CLNN traded up $0.12 during midday trading on Thursday, reaching $4.94. 19,354 shares of the company were exchanged, compared to its average volume of 70,492. Clene has a one year low of $3.82 and a one year high of $12.00. 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 company’s fifty day moving average price is $5.49 and its 200 day moving average price is $6.06. The company has a market cap of $33.89 million, a price-to-earnings ratio of -1.09 and a beta of 0.42.

Insider Activity at Clene

In related news, Director David J. Matlin bought 92,307 shares of the company’s stock in a transaction on Monday, September 30th. The stock was acquired at an average cost of $4.75 per share, for a total transaction of $438,458.25. Following the completion of the transaction, the director now directly owns 444,491 shares in the company, valued at $2,111,332.25. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director David J. Matlin bought 92,307 shares of the business’s stock in a transaction on Monday, September 30th. The stock was acquired at an average price of $4.75 per share, with a total value of $438,458.25. Following the completion of the purchase, the director now directly owns 444,491 shares in the company, valued at $2,111,332.25. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mark Mortenson acquired 20,512 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was acquired at an average cost of $4.75 per share, with a total value of $97,432.00. Following the purchase, 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 corporate insiders.

Hedge Funds Weigh In On Clene

A hedge fund recently bought a new stake in Clene stock. Castleview Partners LLC acquired a new stake in shares of Clene Inc. (NASDAQ:CLNN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 Securities and Exchange Commission (SEC). Hedge funds and other institutional investors 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.