Benchmark Issues Pessimistic Forecast for Clene (NASDAQ:CLNN) Stock Price

Clene (NASDAQ:CLNN) had its price objective trimmed by Benchmark from $90.00 to $84.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

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

Clene Stock Performance

CLNN opened at $4.17 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 0.83 and a quick ratio of 0.82. The firm has a market cap of $34.86 million, a P/E ratio of -0.79 and a beta of 0.42. The company has a 50 day simple moving average of $5.24 and a two-hundred day simple moving average of $5.85.

Insiders Place Their Bets

In other news, insider Mark Mortenson bought 20,512 shares of the firm’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 transaction, the insider now directly owns 28,949 shares of the company’s stock, valued at approximately $137,507.75. The trade was a 243.12 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David J. Matlin purchased 92,307 shares of the business’s stock in a transaction on Monday, September 30th. The stock was purchased at an average cost of $4.75 per share, for a total transaction of $438,458.25. Following the completion of the acquisition, the director now directly owns 444,491 shares of the company’s stock, valued at approximately $2,111,332.25. The trade was 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 Trading of Clene

An institutional investor recently bought a new position in Clene stock. Castleview Partners LLC bought a new stake in shares of Clene Inc. (NASDAQ:CLNN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned approximately 0.19% of Clene at the end of the most recent reporting period. Institutional investors and hedge funds own 23.28% of the company’s stock.

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.