Canaccord Genuity Group Trims Clene (NASDAQ:CLNN) Target Price to $86.00

Clene (NASDAQ:CLNN) had its price objective trimmed by Canaccord Genuity Group from $94.00 to $86.00 in a report published on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently weighed in on CLNN. EF Hutton Acquisition Co. I raised shares of Clene to a strong-buy rating in a research report on Tuesday, September 10th. HC Wainwright reissued a buy rating and set a $31.00 price target on shares of Clene in a research report on Monday, September 16th.

Clene Trading Up 0.4 %

Clene stock opened at $5.32 on Friday. Clene has a 1 year low of $3.82 and a 1 year high of $12.00. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.99 and a quick ratio of 0.99. The firm’s 50 day moving average price is $5.19 and its 200-day moving average price is $6.44. The stock has a market cap of $34.17 million, a P/E ratio of -0.58 and a beta of 0.48.

Clene (NASDAQ:CLNN) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.60) by $0.54. The company had revenue of $0.09 million for the quarter, compared to analyst estimates 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, equities analysts predict that Clene will post -5.26 earnings per share for the current fiscal year.

Insider Transactions at Clene

In related news, Director David J. Matlin purchased 92,307 shares of Clene stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average cost of $4.75 per share, with a total value of $438,458.25. Following the transaction, the director now owns 444,491 shares of the company’s stock, valued at approximately $2,111,332.25. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Clene news, insider Mark Mortenson purchased 20,512 shares of the business’s stock in a transaction on Monday, September 30th. The stock was bought at an average cost of $4.75 per share, with a total value of $97,432.00. Following the acquisition, the insider now owns 28,949 shares of the company’s stock, valued at $137,507.75. The trade was a 200.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 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 in the company, valued at approximately $2,111,332.25. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 25.10% of the company’s stock.

Institutional Trading of Clene

An institutional investor recently raised its position in Clene stock. Csenge Advisory Group increased its stake in shares of Clene Inc. (NASDAQ:CLNN) by 131.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 269,600 shares of the company’s stock after buying an additional 153,000 shares during the quarter. Csenge Advisory Group owned 0.21% of Clene worth $96,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.