Clene (NASDAQ:CLNN) Given New $83.00 Price Target at Canaccord Genuity Group

Clene (NASDAQ:CLNN) had its target price trimmed by Canaccord Genuity Group from $86.00 to $83.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. EF Hutton Acquisition Co. I raised shares of Clene to a “strong-buy” rating in a report on Tuesday, September 10th. HC Wainwright reissued a “buy” rating and set a $31.00 target price on shares of Clene in a research note on Thursday.

Clene Trading Down 3.6 %

CLNN stock traded down $0.17 during mid-day trading on Thursday, reaching $4.52. The company had a trading volume of 67,473 shares, compared to its average volume of 70,732. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $30.99 million, a PE ratio of -0.88 and a beta of 0.42. The firm has a 50 day moving average of $5.46 and a 200 day moving average of $6.05. Clene has a 12 month low of $3.82 and a 12 month high of $12.00.

Insider Buying and Selling at Clene

In other Clene news, insider Mark Mortenson bought 20,512 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were 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 represents a 243.12 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David J. Matlin acquired 92,307 shares of the company’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 transaction, the director now owns 444,491 shares in the company, 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 company insiders.

Institutional Trading of Clene

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