Clene Inc. (NASDAQ:CLNN) Director Buys $400,001.91 in Stock

Clene Inc. (NASDAQ:CLNNGet Rating) Director David J. Matlin bought 132,891 shares of the business’s stock in a transaction on Wednesday, April 20th. The stock was acquired at an average cost of $3.01 per share, for a total transaction of $400,001.91. Following the acquisition, the director now directly owns 1,844,288 shares of the company’s stock, valued at $5,551,306.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

CLNN opened at $2.87 on Friday. The business’s 50 day moving average is $3.06 and its 200-day moving average is $4.01. The stock has a market cap of $181.52 million, a PE ratio of -13.04 and a beta of 0.11. The company has a current ratio of 9.06, a quick ratio of 9.05 and a debt-to-equity ratio of 1.52. Clene Inc. has a twelve month low of $2.36 and a twelve month high of $17.82.

Clene (NASDAQ:CLNNGet Rating) last released its quarterly earnings results on Friday, March 11th. The company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.23. As a group, analysts forecast that Clene Inc. will post -0.71 EPS for the current year.

A number of brokerages have issued reports on CLNN. Zacks Investment Research cut shares of Clene from a “buy” rating to a “hold” rating in a report on Wednesday, January 12th. Roth Capital reissued a “buy” rating on shares of Clene in a report on Monday, February 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $14.75.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLNN. Morgan Stanley increased its stake in shares of Clene by 110.5% during the first quarter. Morgan Stanley now owns 2,105 shares of the company’s stock valued at $27,000 after acquiring an additional 1,105 shares during the period. Bank of America Corp DE increased its stake in shares of Clene by 7,045.1% during the second quarter. Bank of America Corp DE now owns 5,859 shares of the company’s stock valued at $66,000 after acquiring an additional 5,777 shares during the period. Wells Fargo & Company MN increased its stake in shares of Clene by 9,823.7% during the second quarter. Wells Fargo & Company MN now owns 13,000 shares of the company’s stock valued at $146,000 after acquiring an additional 12,869 shares during the period. Soltis Investment Advisors LLC acquired a new position in shares of Clene during the third quarter valued at approximately $1,495,000. Finally, Morgan Jess S & Co. Inc. acquired a new position in shares of Clene during the third quarter valued at approximately $203,000. 15.24% of the stock is currently owned by institutional investors.

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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