D. Boral Capital Reiterates Buy Rating for Clene (NASDAQ:CLNN)

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reaffirmed by analysts at D. Boral Capital in a research report issued on Thursday,Benzinga reports. They currently have a $23.00 price target on the stock. D. Boral Capital’s price target points to a potential upside of 458.25% from the stock’s current price.

CLNN has been the topic of a number of other reports. 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. Canaccord Genuity Group dropped their target price on shares of Clene from $86.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Benchmark decreased their price target on Clene from $90.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, EF Hutton Acquisition Co. I raised Clene to a “strong-buy” rating in a research note on Tuesday, September 10th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Clene presently has an average rating of “Buy” and a consensus target price of $55.25.

Clene Stock Down 5.5 %

Clene stock opened at $4.12 on Thursday. The stock’s 50 day moving average price is $5.02 and its 200 day moving average price is $5.49. Clene has a 1-year low of $3.82 and a 1-year high of $12.00. The company has a market cap of $34.44 million, a PE ratio of -0.78 and a beta of 0.32. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.83 and a quick ratio of 0.82.

Insider Buying and Selling at Clene

In other news, Director David J. Matlin acquired 92,307 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were bought at an average price of $4.75 per share, for a total transaction of $438,458.25. Following the completion of the purchase, the director now directly owns 444,491 shares of the company’s stock, valued at approximately $2,111,332.25. This trade represents a 26.21 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Mortenson bought 20,512 shares of Clene stock in a transaction dated Monday, September 30th. The shares were purchased at an average cost of $4.75 per share, for a total transaction of $97,432.00. Following the completion of the transaction, the insider now owns 28,949 shares of the company’s stock, valued at approximately $137,507.75. This represents 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 bought a new stake in shares of Clene Inc. (NASDAQ:CLNN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 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 quarter. Hedge funds and other institutional investors own 23.28% of the company’s stock.

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.