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

Clene Inc. (NASDAQ:CLNNGet Rating) Director David J. Matlin bought 50,670 shares of Clene stock in a transaction dated Monday, June 6th. The stock was purchased at an average price of $2.57 per share, for a total transaction of $130,221.90. Following the purchase, the director now directly owns 2,121,776 shares in the company, valued at approximately $5,452,964.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of NASDAQ CLNN opened at $2.73 on Tuesday. The firm’s 50-day simple moving average is $2.79 and its 200 day simple moving average is $3.29. The company has a market cap of $172.70 million, a price-to-earnings ratio of 11.87 and a beta of 0.38. The company has a quick ratio of 7.76, a current ratio of 7.77 and a debt-to-equity ratio of 9.64. Clene Inc. has a 12-month low of $1.93 and a 12-month high of $17.82.

Clene (NASDAQ:CLNNGet Rating) last issued 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. On average, equities analysts expect that Clene Inc. will post -0.72 earnings per share for the current year.

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group assumed coverage on shares of Clene in a research note on Monday, May 2nd. They issued a “buy” rating and a $10.00 target price on the stock. Oppenheimer reduced their target price on shares of Clene to $16.00 in a research note on Friday. Canaccord Genuity Group assumed coverage on shares of Clene in a research note on Monday, May 2nd. They issued a “buy” rating and a $10.00 target price on the stock. Zacks Investment Research upgraded shares of Clene from a “sell” rating to a “hold” rating in a research note on Friday, May 13th. Finally, Roth Capital reiterated a “buy” rating on shares of Clene in a research report on Monday, February 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Clene presently has a consensus rating of “Buy” and an average price target of $11.40.

Large investors have recently made changes to their positions in the business. Wells Fargo & Company MN raised its holdings in Clene by 9,823.7% during the 2nd quarter. Wells Fargo & Company MN now owns 13,000 shares of the company’s stock worth $146,000 after purchasing an additional 12,869 shares during the last quarter. Morgan Stanley raised its holdings in Clene by 47.5% during the 3rd quarter. Morgan Stanley now owns 20,979 shares of the company’s stock worth $143,000 after purchasing an additional 6,752 shares during the last quarter. Parametric Portfolio Associates LLC bought a new stake in Clene during the 4th quarter worth about $130,000. Goldman Sachs Group Inc. bought a new stake in Clene during the 1st quarter worth about $70,000. Finally, Bank of America Corp DE increased its stake in shares of Clene by 7,045.1% in the 2nd 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 last quarter. 23.07% of the stock is owned by hedge funds and other institutional investors.

About Clene (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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