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

Clene (NASDAQ:CLNN) had its price objective reduced by analysts at Benchmark from $90.00 to $84.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Other analysts also recently issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $31.00 price objective on shares of Clene in a report on Thursday, November 14th. Canaccord Genuity Group dropped their price target on Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Finally, EF Hutton Acquisition Co. I upgraded shares of Clene to a “strong-buy” rating in a research note on Tuesday, September 10th.

Clene Stock Up 2.2 %

Shares of NASDAQ CLNN traded up $0.09 during mid-day trading on Friday, reaching $4.10. The company had a trading volume of 5,982 shares, compared to its average volume of 70,840. The stock has a fifty day moving average of $5.29 and a two-hundred day moving average of $5.91. Clene has a 12-month low of $3.82 and a 12-month high of $12.00. The company has a market capitalization of $34.28 million, a price-to-earnings ratio of -0.76 and a beta of 0.42. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.82 and a current ratio of 0.83.

Insider Activity

In related news, Director David J. Matlin purchased 92,307 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average cost of $4.75 per share, with a total value of $438,458.25. Following the acquisition, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark Mortenson bought 20,512 shares of Clene stock in a transaction on Monday, September 30th. The shares were acquired at an average cost of $4.75 per share, for a total transaction of $97,432.00. Following the completion of the acquisition, the insider now directly owns 28,949 shares in the company, valued at approximately $137,507.75. The trade was 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 owned by corporate insiders.

Institutional Investors Weigh In On Clene

A hedge fund recently raised its stake in Clene stock. Csenge Advisory Group boosted its position in shares of Clene Inc. (NASDAQ:CLNN) by 131.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 269,600 shares of the company’s stock after buying an additional 153,000 shares during the quarter. Csenge Advisory Group owned approximately 0.21% of Clene worth $96,000 as of its most recent filing with the Securities & Exchange Commission. 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.