Clene Inc. (NASDAQ:CLNN) Insider Mark Mortenson Buys 20,512 Shares

Clene Inc. (NASDAQ:CLNN) insider Mark Mortenson acquired 20,512 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was purchased at an average cost of $4.75 per share, with a total value of $97,432.00. Following the completion of the acquisition, the insider now directly owns 28,949 shares of the company’s stock, valued at approximately $137,507.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Clene Stock Performance

Shares of Clene stock traded up $0.01 during trading hours on Tuesday, hitting $4.60. 55,205 shares of the company were exchanged, compared to its average volume of 72,016. The business has a 50-day moving average of $5.16 and a 200-day moving average of $6.53. Clene Inc. has a 1 year low of $3.82 and a 1 year high of $13.20. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $29.76 million, a price-to-earnings ratio of -0.50 and a beta of 0.49.

Clene (NASDAQ:CLNN) last released its earnings results on Wednesday, August 7th. The company reported ($1.06) EPS 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 during the quarter, compared to analysts’ expectations of $0.10 million. As a group, analysts expect that Clene Inc. will post -5.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Clene

A hedge fund recently raised its stake in Clene stock. Csenge Advisory Group grew its holdings in Clene Inc. (NASDAQ:CLNN) by 131.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 269,600 shares of the company’s stock after buying an additional 153,000 shares during the quarter. Csenge Advisory Group owned about 0.21% of Clene worth $96,000 at the end of the most recent quarter. 23.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on CLNN. HC Wainwright reiterated a “buy” rating and issued a $31.00 price target on shares of Clene in a research report on Monday, September 16th. EF Hutton Acquisition Co. I raised shares of Clene to a “strong-buy” rating in a report on Tuesday, September 10th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $94.00 price target on shares of Clene in a report on Tuesday, August 6th.

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.