Clene Inc. (NASDAQ:CLNN) Director David J. Matlin Purchases 92,307 Shares

Clene Inc. (NASDAQ:CLNN) Director David J. Matlin acquired 92,307 shares of the stock in a transaction on Monday, September 30th. The stock was bought at an average price 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Clene Trading Up 9.3 %

Shares of CLNN stock traded up $0.43 on Wednesday, reaching $5.03. The company had a trading volume of 24,846 shares, compared to its average volume of 71,768. The stock has a market cap of $32.54 million, a PE ratio of -0.54 and a beta of 0.49. The company has a 50-day moving average of $5.16 and a 200-day moving average of $6.50. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.66. Clene Inc. has a 12 month low of $3.82 and a 12 month high of $13.20.

Clene (NASDAQ:CLNN) last posted its earnings results on Wednesday, August 7th. The company reported ($1.06) earnings per share for the quarter, topping the consensus estimate of ($1.60) by $0.54. Clene had a negative net margin of 6,890.50% and a negative return on equity of 315.97%. The company had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.10 million. On average, equities analysts forecast that Clene Inc. will post -5.26 earnings per share for the current year.

Hedge Funds Weigh In On Clene

A hedge fund recently raised its stake in Clene stock. Csenge Advisory Group boosted its position in shares of Clene Inc. (NASDAQ:CLNN) by 131.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,600 shares of the company’s stock after purchasing an additional 153,000 shares during the period. Csenge Advisory Group owned about 0.21% of Clene worth $96,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 23.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. EF Hutton Acquisition Co. I raised shares of Clene to a “strong-buy” rating in a report on Tuesday, September 10th. Canaccord Genuity Group restated a “buy” rating and set a $94.00 target price on shares of Clene in a research report on Tuesday, August 6th. Finally, HC Wainwright restated a “buy” rating and issued a $31.00 price objective on shares of Clene in a report on Monday, September 16th.

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.