Clene Inc. (NASDAQ:CLNN) Director David J. Matlin Buys 50,670 Shares

Clene Inc. (NASDAQ:CLNNGet Rating) Director David J. Matlin acquired 50,670 shares of the business’s stock in a transaction dated Monday, June 6th. The stock was bought at an average cost of $2.57 per share, with a total value of $130,221.90. Following the acquisition, the director now owns 2,121,776 shares in the company, valued at approximately $5,452,964.32. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

CLNN stock opened at $2.73 on Tuesday. The company has a debt-to-equity ratio of 9.64, a current ratio of 7.77 and a quick ratio of 7.76. The stock has a market capitalization of $172.70 million, a price-to-earnings ratio of 11.87 and a beta of 0.38. The business’s fifty day moving average price is $2.79 and its two-hundred day moving average price is $3.29. Clene Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $17.82.

Clene (NASDAQ:CLNNGet Rating) last posted its quarterly earnings data on Friday, March 11th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The business had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $0.14 million. Research analysts expect that Clene Inc. will post -0.72 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the business. State Street Corp increased its position in shares of Clene by 126.7% in the fourth quarter. State Street Corp now owns 883,258 shares of the company’s stock worth $3,621,000 after purchasing an additional 493,581 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in shares of Clene in the fourth quarter worth $1,106,000. BlackRock Inc. increased its position in shares of 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. increased its position in shares of 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 bought a new position in shares of Clene in the fourth quarter worth $159,000. Hedge funds and other institutional investors own 23.07% of the company’s stock.

A number of research firms recently weighed in on CLNN. Canaccord Genuity Group began coverage on Clene in a research note on Monday, May 2nd. They issued a “buy” rating and a $10.00 price target on the stock. Canaccord Genuity Group began coverage on Clene in a research note on Monday, May 2nd. They issued a “buy” rating and a $10.00 price target on the stock. Zacks Investment Research upgraded Clene from a “sell” rating to a “hold” rating in a research note on Friday, May 13th. Roth Capital restated a “buy” rating on shares of Clene in a research note on Monday, February 14th. Finally, Oppenheimer dropped their price target on Clene to $16.00 in a research note on Friday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Clene presently has an average rating of “Buy” and an average price target of $11.40.

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.

Read More

Insider Buying and Selling by Quarter for Clene (NASDAQ:CLNN)

Receive News & Ratings for Clene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clene and related companies with MarketBeat.com's FREE daily email newsletter.