Jonathon Gay Purchases 10,000 Shares of Clene Inc. (NASDAQ:CLNN) Stock

Clene Inc. (NASDAQ:CLNNGet Rating) Director Jonathon Gay acquired 10,000 shares of the business’s stock in a transaction on Monday, May 16th. The stock was acquired at an average cost of $2.08 per share, for a total transaction of $20,800.00. Following the transaction, the director now directly owns 68,745 shares in the company, valued at $142,989.60. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

CLNN traded up $0.19 on Tuesday, hitting $2.33. The company had a trading volume of 1,306 shares, compared to its average volume of 119,525. The stock has a market capitalization of $147.40 million, a price-to-earnings ratio of 10.04 and a beta of 0.37. The company has a debt-to-equity ratio of 9.64, a quick ratio of 7.76 and a current ratio of 7.77. The stock has a fifty day moving average price of $2.94 and a 200-day moving average price of $3.60. Clene Inc. has a 12-month low of $1.93 and a 12-month high of $17.82.

Clene (NASDAQ:CLNNGet Rating) last released its quarterly earnings results on Friday, March 11th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). The firm had revenue of $0.20 million for the quarter, compared to analyst estimates of $0.14 million. Analysts forecast that Clene Inc. will post -0.72 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in Clene by 126.7% during the 4th quarter. State Street Corp now owns 883,258 shares of the company’s stock valued at $3,621,000 after buying an additional 493,581 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in shares of Clene during the fourth quarter valued at about $1,106,000. BlackRock Inc. increased its holdings in shares of Clene by 7.5% during the fourth quarter. BlackRock Inc. now owns 1,145,686 shares of the company’s stock valued at $4,697,000 after acquiring an additional 79,960 shares in the last quarter. Morgan Jess S & Co. Inc. raised its position in shares of Clene by 193.3% in the 1st quarter. Morgan Jess S & Co. Inc. now owns 87,250 shares of the company’s stock valued at $344,000 after purchasing an additional 57,500 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Clene during the 4th quarter worth approximately $159,000. 23.07% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on CLNN shares. Zacks Investment Research raised shares of Clene from a “sell” rating to a “hold” rating in a research note on Friday. Roth Capital reaffirmed a “buy” rating on shares of Clene in a research note on Monday, February 14th. Canaccord Genuity Group began coverage on shares of Clene in a report on Monday, May 2nd. They set a “buy” rating and a $10.00 target price on the stock. Finally, Canaccord Genuity Group initiated coverage on shares of Clene in a report on Monday, May 2nd. They issued a “buy” rating and a $10.00 price target for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to, the company currently has an average rating of “Buy” and an average target price of $13.17.

Clene Company Profile (Get Rating)

Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. Its lead drug is CNM-Au8, which is being studied in various clinical trials, including a Phase 2/3 registrational clinical trial for 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; ongoing Phase 2 clinical trial for the treatment of visual pathway deficits in chronic optic neuropathy for remyelination in stable relapsing Multiple Sclerosis; and a planned Phase 2 clinical trial for the treatment of patients with Parkinson's Diseases.

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