Clene’s (CLNN) “Buy” Rating Reaffirmed at D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of Clene (NASDAQ:CLNN) in a report published on Thursday morning,Benzinga reports. The firm currently has a $23.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group decreased their price target on shares of Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. 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 raised shares of Clene to a “strong-buy” rating in a research note on Tuesday, September 10th. Finally, 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. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $55.25.

Clene Price Performance

Shares of CLNN traded up $0.03 during mid-day trading on Thursday, reaching $4.33. The stock had a trading volume of 3,972 shares, compared to its average volume of 74,352. Clene has a 12 month low of $3.82 and a 12 month high of $11.00. The business has a fifty day moving average of $5.00 and a 200 day moving average of $5.48. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market cap of $36.20 million, a price-to-earnings ratio of -0.82 and a beta of 0.32.

Insiders Place Their Bets

In other Clene news, Director David J. Matlin purchased 92,307 shares of Clene 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 $438,458.25. Following the transaction, the director now owns 444,491 shares of the company’s stock, valued at $2,111,332.25. This represents a 26.21 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Mortenson purchased 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, with a total value of $97,432.00. Following the completion of the transaction, the insider now directly owns 28,949 shares in the company, valued at $137,507.75. The trade was a 243.12 % increase in their position. The disclosure for this purchase can be found here. 25.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clene

A hedge fund recently bought a new stake in Clene stock. Castleview Partners LLC acquired a new stake in Clene Inc. (NASDAQ:CLNN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned approximately 0.19% of Clene as of its most recent filing with the Securities and Exchange Commission. 23.28% of the stock is owned by institutional investors.

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.