D. Boral Capital Reiterates Buy Rating for Clene (NASDAQ:CLNN)

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reaffirmed by investment analysts at D. Boral Capital in a research note issued on Thursday,Benzinga reports. They presently have a $23.00 price objective on the stock. D. Boral Capital’s price target suggests a potential upside of 422.73% from the company’s current price.

Several other research analysts also recently commented on CLNN. Benchmark decreased their price target on shares of Clene from $90.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. EF Hutton Acquisition Co. I upgraded shares of Clene to a “strong-buy” rating in a research report on Tuesday, September 10th. HC Wainwright restated a “buy” rating and set a $31.00 price target on shares of Clene in a research report on Thursday, November 14th. Finally, Canaccord Genuity Group reduced their price objective on Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Clene has a consensus rating of “Buy” and a consensus target price of $55.25.

Clene Price Performance

Shares of Clene stock opened at $4.40 on Thursday. The firm has a market capitalization of $36.78 million, a PE ratio of -0.83 and a beta of 0.32. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.66. Clene has a 12 month low of $3.82 and a 12 month high of $11.00. The business’s 50-day moving average price is $4.98 and its 200-day moving average price is $5.47.

Insider Buying and Selling at Clene

In other Clene news, insider Mark Mortenson purchased 20,512 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average price of $4.75 per share, with a total value of $97,432.00. Following the completion of the purchase, the insider now directly owns 28,949 shares of the company’s stock, valued at $137,507.75. The trade was a 243.12 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David J. Matlin acquired 92,307 shares of Clene stock in a transaction on Monday, September 30th. The shares were bought at an average cost of $4.75 per share, for a total transaction of $438,458.25. Following the completion of the transaction, the director now owns 444,491 shares in the company, valued at approximately $2,111,332.25. This trade represents a 26.21 % increase in their position. The disclosure for this purchase can be found here. 25.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clene

An institutional investor recently bought a new position in Clene stock. Castleview Partners LLC purchased a new stake in shares of Clene Inc. (NASDAQ:CLNN) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 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.

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.