Clene (NASDAQ:CLNN) Rating Reiterated by HC Wainwright

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $31.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 474.07% from the company’s previous close.

Other analysts also recently issued reports about the stock. EF Hutton Acquisition Co. I raised shares of Clene to a “strong-buy” rating in a research report on Tuesday, September 10th. Canaccord Genuity Group cut their price target on shares of Clene from $94.00 to $86.00 and set a “buy” rating on the stock in a report on Friday, October 4th.

Clene Price Performance

CLNN stock opened at $5.40 on Thursday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a 50 day moving average price of $5.41 and a 200-day moving average price of $6.19. Clene has a 52-week low of $3.82 and a 52-week high of $12.00. The firm has a market capitalization of $37.04 million, a price-to-earnings ratio of -1.21 and a beta of 0.48.

Clene (NASDAQ:CLNN) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($1.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.60) by $0.54. Clene had a negative return on equity of 315.97% and a negative net margin of 6,890.50%. The business had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.10 million. Equities research analysts forecast that Clene will post -5.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David J. Matlin purchased 92,307 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average price of $4.75 per share, with a total value of $438,458.25. Following the acquisition, the director now directly owns 444,491 shares in the company, valued at $2,111,332.25. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Clene news, insider Mark Mortenson purchased 20,512 shares of Clene stock in a transaction dated Monday, September 30th. The stock was purchased at an average price of $4.75 per share, with a total value of $97,432.00. Following the transaction, the insider now directly owns 28,949 shares of the company’s stock, valued at $137,507.75. This trade 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 accessible through this link. Also, Director David J. Matlin acquired 92,307 shares of the 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 $438,458.25. Following the purchase, the director now directly owns 444,491 shares in the company, valued at approximately $2,111,332.25. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 25.10% of the stock is owned by corporate insiders.

Institutional Trading of Clene

An institutional investor recently bought a new position in Clene stock. Castleview Partners LLC bought a new position in Clene Inc. (NASDAQ:CLNN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned approximately 0.19% of Clene at the end of the most recent quarter. 23.28% of the stock is owned by institutional investors and hedge funds.

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.