Clene (NASDAQ:CLNN) Earns “Buy” Rating from D. Boral Capital

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reissued by D. Boral Capital in a research note issued on Thursday,Benzinga reports. They presently have a $23.00 price target on the stock. D. Boral Capital’s price objective would indicate a potential upside of 458.25% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. EF Hutton Acquisition Co. I raised shares of Clene to a “strong-buy” rating in a research note on Tuesday, September 10th. HC Wainwright reaffirmed a “buy” rating and set a $31.00 price target on shares of Clene in a research note on Thursday, November 14th. Canaccord Genuity Group dropped 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. Finally, Benchmark decreased their target price on Clene from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Clene presently has an average rating of “Buy” and an average target price of $55.25.

Clene Trading Down 5.5 %

Shares of CLNN stock opened at $4.12 on Thursday. Clene has a 1 year low of $3.82 and a 1 year high of $12.00. The firm has a market capitalization of $34.44 million, a PE ratio of -0.78 and a beta of 0.32. The stock has a fifty day moving average of $5.02 and a two-hundred day moving average of $5.49. 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 other news, Director David J. Matlin purchased 92,307 shares of Clene stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average price of $4.75 per share, for a total transaction of $438,458.25. Following the transaction, the director now owns 444,491 shares in the company, valued at $2,111,332.25. The trade was a 26.21 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark Mortenson acquired 20,512 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 $97,432.00. Following the purchase, the insider now directly owns 28,949 shares in the company, valued at approximately $137,507.75. This trade represents a 243.12 % 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 bought a new position in Clene stock. Castleview Partners LLC purchased a new stake in shares of Clene Inc. (NASDAQ:CLNN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 quarter. 23.28% of the stock is currently owned by institutional investors and hedge funds.

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.