Clene (NASDAQ:CLNN) Given New $84.00 Price Target at Benchmark

Clene (NASDAQ:CLNN) had its price objective decreased by Benchmark from $90.00 to $84.00 in a research report report published on Friday morning,Benzinga reports. Benchmark currently has a buy rating on the stock.

A number of other research firms have also recently commented on CLNN. HC Wainwright reiterated a “buy” rating and issued a $31.00 price objective on shares of Clene in a report on Thursday, November 14th. EF Hutton Acquisition Co. I raised Clene to a “strong-buy” rating in a research note on Tuesday, September 10th. Finally, Canaccord Genuity Group cut their price objective on Clene from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, November 14th.

Clene Stock Down 2.2 %

Shares of NASDAQ:CLNN opened at $4.08 on Friday. Clene has a 52-week low of $3.82 and a 52-week high of $12.00. The stock has a market cap of $34.11 million, a P/E ratio of -0.77 and a beta of 0.42. The business has a fifty day moving average of $5.21 and a two-hundred day moving average of $5.82. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.66.

Insider Buying and Selling at Clene

In related news, Director David J. Matlin bought 92,307 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $4.75 per share, with a total value of $438,458.25. Following the purchase, the director now directly owns 444,491 shares of the company’s stock, valued at $2,111,332.25. This trade represents a 26.21 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mark Mortenson bought 20,512 shares of Clene stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $4.75 per share, for a total transaction of $97,432.00. Following the acquisition, the insider now owns 28,949 shares of the company’s stock, valued at $137,507.75. This represents a 243.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 25.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Clene

An institutional investor recently bought a new position in Clene stock. Castleview Partners LLC acquired a new stake in Clene Inc. (NASDAQ:CLNN) in the 3rd quarter, according to 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 at the end of the most recent quarter. 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.