David J. Matlin Buys 92,307 Shares of Clene Inc. (NASDAQ:CLNN) Stock

Clene Inc. (NASDAQ:CLNN) Director David J. Matlin acquired 92,307 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was purchased at an average price of $4.75 per share, for a total transaction of $438,458.25. Following the transaction, the director now directly owns 444,491 shares of the company’s stock, valued at approximately $2,111,332.25. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Clene Price Performance

CLNN stock opened at $5.30 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.99 and a quick ratio of 0.99. Clene Inc. has a 1 year low of $3.82 and a 1 year high of $13.20. The firm has a 50-day moving average of $5.18 and a 200 day moving average of $6.48. The company has a market cap of $36.36 million, a P/E ratio of -0.58 and a beta of 0.48.

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

Analyst Ratings Changes

Several research firms recently issued reports on CLNN. Canaccord Genuity Group cut their target price on Clene from $94.00 to $86.00 and set a “buy” rating on the stock in a research note on Friday. HC Wainwright reiterated a “buy” rating and issued a $31.00 price objective on shares of Clene in a research report on Monday, September 16th. Finally, EF Hutton Acquisition Co. I upgraded Clene to a “strong-buy” rating in a report on Tuesday, September 10th.

Hedge Funds Weigh In On Clene

An institutional investor recently raised its position in Clene stock. Csenge Advisory Group lifted its stake in Clene Inc. (NASDAQ:CLNN) by 131.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 269,600 shares of the company’s stock after purchasing an additional 153,000 shares during the quarter. Csenge Advisory Group owned 0.21% of Clene worth $96,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 23.28% of the company’s stock.

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.