Insider Buying: Clene Inc. (NASDAQ:CLNN) Insider Acquires $97,432.00 in Stock

by · The Cerbat Gem

Clene Inc. (NASDAQ:CLNN – Get Free Report) insider Mark Mortenson bought 20,512 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average price of $4.75 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Clene Price Performance

NASDAQ:CLNN opened at $4.95 on Friday. Clene Inc. has a 52 week low of $3.82 and a 52 week high of $13.20. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $31.79 million, a PE ratio of -0.54 and a beta of 0.48. The stock’s 50-day moving average price is $5.17 and its 200-day moving average price is $6.49.

Clene (NASDAQ:CLNN – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($1.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.60) by $0.54. Clene had a negative return on equity of 315.97% and a negative net margin of 6,890.50%. The company had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.10 million. As a group, equities analysts expect that Clene Inc. will post -5.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CLNN. HC Wainwright restated a “buy” rating and set a $31.00 price objective on shares of Clene in a research report on Monday, September 16th. EF Hutton Acquisition Co. I raised Clene to a “strong-buy” rating in a research note on Tuesday, September 10th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $94.00 target price on shares of Clene in a research report on Tuesday, August 6th.

View Our Latest Stock Report on CLNN

Institutional Investors Weigh In On Clene

A hedge fund recently raised its stake in Clene stock. Csenge Advisory Group lifted its stake in shares of Clene Inc. (NASDAQ:CLNN – Free Report) by 131.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 269,600 shares of the company’s stock after purchasing an additional 153,000 shares during the period. Csenge Advisory Group owned 0.21% of Clene worth $96,000 as of its most recent SEC filing. Institutional investors and hedge funds own 23.28% of the company’s stock.

About Clene

(Get Free Report)

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.

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