Clene (NASDAQ:CLNN – Free Report) had its price objective lowered by Canaccord Genuity Group from $94.00 to $86.00 in a report published on Friday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.
CLNN has been the topic of several other research reports. EF Hutton Acquisition Co. I raised Clene to a strong-buy rating in a research report on Tuesday, September 10th. HC Wainwright restated a buy rating and set a $31.00 target price on shares of Clene in a research note on Monday, September 16th.
View Our Latest Stock Report on CLNN
Clene Trading Up 7.1 %
Clene (NASDAQ:CLNN – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($1.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.60) by $0.54. The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.10 million. Clene had a negative return on equity of 315.97% and a negative net margin of 6,890.50%. Equities research analysts anticipate that Clene will post -5.26 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director David J. Matlin acquired 92,307 shares of Clene stock in a transaction on Monday, September 30th. The shares were purchased at an average cost of $4.75 per share, for a total transaction of $438,458.25. Following the completion of the purchase, the director now directly owns 444,491 shares of the company’s stock, valued at approximately $2,111,332.25. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Clene news, insider Mark Mortenson bought 20,512 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average cost of $4.75 per share, for a total transaction of $97,432.00. Following the transaction, the insider now directly owns 28,949 shares in the company, valued at approximately $137,507.75. This represents a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David J. Matlin purchased 92,307 shares of Clene stock in a transaction on Monday, September 30th. The stock was bought at an average price of $4.75 per share, for a total transaction 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 trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 25.10% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Clene
A hedge fund recently raised its stake in Clene stock. Csenge Advisory Group raised its position in Clene Inc. (NASDAQ:CLNN – Free Report) by 131.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 269,600 shares of the company’s stock after purchasing an additional 153,000 shares during the period. Csenge Advisory Group owned 0.21% of Clene worth $96,000 as of its most recent filing with the SEC. 23.28% of the stock is currently owned by hedge funds and other institutional investors.
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.
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