Clene Inc. (NASDAQ:CLNN) Short Interest Down 32.5% in November

Clene Inc. (NASDAQ:CLNN) saw a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 108,200 shares, a decrease of 32.5% from the November 15th total of 160,400 shares. Currently, 2.1% of the company’s stock are short sold. Based on an average daily trading volume, of 84,900 shares, the short-interest ratio is currently 1.3 days.

Clene Stock Performance

Shares of Clene stock traded up $0.15 during trading hours on Friday, hitting $5.11. 105,918 shares of the company were exchanged, compared to its average volume of 74,849. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.66. The business has a 50-day moving average of $5.09 and a 200-day moving average of $5.57. Clene has a 1 year low of $3.82 and a 1 year high of $12.00. The stock has a market capitalization of $42.72 million, a price-to-earnings ratio of -0.98 and a beta of 0.32.

Analysts Set New Price Targets

CLNN has been the subject of several analyst reports. EF Hutton Acquisition Co. I upgraded Clene to a “strong-buy” rating in a report on Tuesday, September 10th. Benchmark cut their price objective on Clene from $90.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Canaccord Genuity Group lowered their target price on Clene from $86.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, November 14th. D. Boral Capital reiterated a “buy” rating and set a $23.00 price target on shares of Clene in a research note on Tuesday. Finally, HC Wainwright reissued a “buy” rating and issued a $31.00 price objective on shares of Clene in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $55.25.

Insiders Place Their Bets

In related news, Director David J. Matlin purchased 92,307 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was acquired at an average price of $4.75 per share, with a total value of $438,458.25. Following the completion of the acquisition, the director now owns 444,491 shares in the company, valued at approximately $2,111,332.25. This represents a 26.21 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark Mortenson bought 20,512 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of $4.75 per share, for a total transaction of $97,432.00. Following the transaction, the insider now owns 28,949 shares of the company’s stock, valued at $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 company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Clene stock. Castleview Partners LLC purchased a new stake in Clene Inc. (NASDAQ:CLNN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned about 0.19% of Clene at the end of the most recent reporting period. 23.28% of the stock is currently 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.