Mark Mortenson Buys 20,512 Shares of Clene Inc. (NASDAQ:CLNN) Stock

Clene Inc. (NASDAQ:CLNN) insider Mark Mortenson purchased 20,512 shares of the stock in a transaction dated Monday, September 30th. The shares were purchased at an average price 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 in the company, valued at approximately $137,507.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Clene Stock Up 0.2 %

Shares of Clene stock opened at $4.60 on Wednesday. Clene Inc. has a 12-month low of $3.82 and a 12-month high of $13.20. The firm has a market capitalization of $29.76 million, a PE ratio of -0.50 and a beta of 0.49. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.66. The stock’s fifty day moving average is $5.16 and its 200-day moving average is $6.50.

Clene (NASDAQ:CLNN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.60) by $0.54. Clene had a negative return on equity of 315.97% and a negative net margin of 6,890.50%. The firm had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.10 million. Equities analysts anticipate that Clene Inc. will post -5.26 earnings per share for the current year.

Institutional Investors Weigh In On Clene

A hedge fund recently raised its stake in Clene stock. Csenge Advisory Group increased its position in Clene Inc. (NASDAQ:CLNN) by 131.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 269,600 shares of the company’s stock after purchasing an additional 153,000 shares during the period. Csenge Advisory Group owned about 0.21% of Clene worth $96,000 at the end of the most recent reporting period. 23.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $31.00 target price on shares of Clene in a research note on Monday, September 16th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Clene in a research note on Tuesday, August 6th. Finally, EF Hutton Acquisition Co. I raised shares of Clene to a “strong-buy” rating in a research note on Tuesday, September 10th.

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.