Clene Inc. (NASDAQ:CLNN) Director David J. Matlin Buys 35,000 Shares

Clene Inc. (NASDAQ:CLNN – Get Rating) Director David J. Matlin acquired 35,000 shares of Clene stock in a transaction on Friday, May 27th. The shares were purchased at an average price of $2.27 per share, for a total transaction of $79,450.00. Following the completion of the purchase, the director now directly owns 2,061,106 shares of the company’s stock, valued at $4,678,710.62. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of CLNN stock traded up $0.07 during trading hours on Friday, hitting $2.28. 156,462 shares of the company were exchanged, compared to its average volume of 116,247. The firm has a market cap of $144.23 million, a P/E ratio of 9.61 and a beta of 0.37. Clene Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $17.82. 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 company has a 50 day simple moving average of $2.88 and a two-hundred day simple moving average of $3.47.

Clene (NASDAQ:CLNN – Get Rating) last posted its quarterly earnings results on Friday, March 11th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The company had revenue of $0.20 million for the quarter, compared to analyst estimates of $0.14 million. As a group, sell-side analysts expect that Clene Inc. will post -0.72 EPS for the current fiscal year.

A number of research analysts recently issued reports on the stock. Roth Capital reiterated a “buy” rating on shares of Clene in a report on Monday, February 14th. Canaccord Genuity Group began coverage on shares of Clene in a research report on Monday, May 2nd. They set a “buy” rating and a $10.00 target price for the company. Zacks Investment Research raised shares of Clene from a “sell” rating to a “hold” rating in a research report on Friday, May 13th. Finally, Canaccord Genuity Group initiated coverage on shares of Clene in a research report on Monday, May 2nd. They set a “buy” rating and a $10.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Clene currently has a consensus rating of “Buy” and a consensus target price of $12.20.

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

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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