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

Clene (NASDAQ:CLNN) had its price target decreased by Canaccord Genuity Group from $86.00 to $83.00 in a research report report published on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other research analysts also recently commented on the stock. HC Wainwright restated 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 shares of Clene to a “strong-buy” rating in a report on Tuesday, September 10th.

Clene Price Performance

NASDAQ CLNN traded down $0.17 during trading on Thursday, reaching $4.52. 67,473 shares of the company traded hands, compared to its average volume of 70,732. The company has a market cap of $30.99 million, a price-to-earnings ratio of -0.88 and a beta of 0.42. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.99 and a current ratio of 0.99. Clene has a 1-year low of $3.82 and a 1-year high of $12.00. The stock’s 50 day moving average price is $5.46 and its two-hundred day moving average price is $6.05.

Insider Transactions at Clene

In other news, Director David J. Matlin purchased 92,307 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were acquired at an average price of $4.75 per share, with a total value 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 $2,111,332.25. The trade was a 26.21 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Mortenson acquired 20,512 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average price of $4.75 per share, with a total value of $97,432.00. Following the completion of 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 position. The disclosure for this purchase can be found here. Company insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Clene

A hedge fund recently bought a new stake in Clene stock. Castleview Partners LLC acquired a new position in Clene Inc. (NASDAQ:CLNN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 reporting period. Hedge funds and other 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.