Clene (NASDAQ:CLNN) Price Target Lowered to $83.00 at Canaccord Genuity Group

Clene (NASDAQ:CLNN) had its price target lowered by Canaccord Genuity Group from $86.00 to $83.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $31.00 price objective on shares of Clene in a research report on Thursday. EF Hutton Acquisition Co. I upgraded Clene to a “strong-buy” rating in a report on Tuesday, September 10th.

Clene Trading Down 3.4 %

NASDAQ:CLNN opened at $4.53 on Thursday. The stock has a fifty day moving average price of $5.43 and a 200 day moving average price of $5.99. The company has a current ratio of 0.83, a quick ratio of 0.99 and a debt-to-equity ratio of 1.66. Clene has a 12-month low of $3.82 and a 12-month high of $12.00. The firm has a market cap of $37.87 million, a PE ratio of -0.86 and a beta of 0.42.

Insider Transactions at Clene

In related news, insider Mark Mortenson purchased 20,512 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was acquired at an average price of $4.75 per share, for a total transaction of $97,432.00. Following the acquisition, the insider now directly owns 28,949 shares of the company’s stock, valued at $137,507.75. This trade represents a 243.12 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David J. Matlin acquired 92,307 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average price 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 approximately $2,111,332.25. This represents a 26.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 25.10% of the company’s stock.

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) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 & Exchange Commission. 23.28% of the stock is currently owned by institutional investors and hedge funds.

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.