Clene Inc. (NASDAQ:CLNN) shares traded 2.36% higher at $1.30 on Wall Street last session.
In accordance with the data, 7 analysts cover Clene Inc. (NASDAQ:CLNN). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $15.00 and a low of $4.00, we find $10.00. Given the previous closing price of $1.27, this indicates a potential upside of 687.4 percent. CLNN stock price is now 0.97% away from the 50-day moving average and -38.43% away from the 200-day moving average. The market capitalization of the company currently stands at $93.60M.
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It has been rated a hold by 0 analysts and a buy by 7. Brokers who have rated the stock have averaged $9.29 as their price target over the next twelve months.
On July 18, 2022, H.C. Wainwright recently initiated its ‘Buy’ rating on the stock quoting a target price of $16, while ‘Canaccord Genuity’ rates the stock as ‘Buy’.
In other news, MATLIN DAVID J, Director bought 2,871,287 shares of the company’s stock on Nov 02. The stock was bought for $2,900,000 at an average price of $1.01. Upon completion of the transaction, the Director now directly owns 5,293,684 shares in the company, valued at $6.88 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 02, Director Gay Jonathon bought 990,099 shares of the business’s stock. A total of $1,000,000 was incurred on buying the stock at an average price of $1.01. This leaves the insider owning 2,154,848 shares of the company worth $2.8 million. Insiders disposed of 363,156 shares of company stock worth roughly $0.47 million over the past 1 year. A total of 8.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CLNN stock. A new stake in Clene Inc. shares was purchased by GROUP ONE TRADING, L.P. during the first quarter worth $164,000. ATOM INVESTORS LP invested $160,000 in shares of CLNN during the first quarter. In the first quarter, BRIDGEWAY CAPITAL MANAGEMENT, LLC acquired a new stake in Clene Inc. valued at approximately $131,000. BELVEDERE TRADING LLC acquired a new stake in CLNN for approximately $35,000. JANE STREET GROUP, LLC purchased a new stake in CLNN valued at around $30,000 in the second quarter. In total, there are 53 active investors with 6.00% ownership of the company’s stock.
Clene Inc. (NASDAQ: CLNN) opened at $1.2600 on Wednesday. During the past 12 months, Clene Inc. has had a low of $0.87 and a high of $5.13. The fifty day moving average price for CLNN is $1.2876 and a two-hundred day moving average price translates $2.1116 for the stock.
The latest earnings results from Clene Inc. (NASDAQ: CLNN) was released for Sep, 2022. According to the Biotechnology Company, earnings per share came in at -$0.17, beating analysts’ expectations of -$0.22 by 0.05. This compares to $0.41 EPS in the same period last year. The company reported revenue of $0.17 million for the quarter, compared to $0.11 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 58.18 percent. For the current quarter, analysts expect CLNN to generate $110k in revenue.
Clene Inc.(CLNN) 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 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. The company’s products also include CNM-AgZn17, a gel polymer suspension of silver and zinc ions that is being developed for the treatment of infectious diseases and to accelerate wound healing; CNM-ZnAg, a broad-spectrum antiviral and antibacterial agent to treat infection disease, such as COVID-19 and to provide immune support for symptom resolution; and CNM-PtAu7, a gold-platinum CSN therapeutic for oncology applications. It also markets and distributes dietary supplements comprising rMetx, an aqueous zinc-silver ion dietary supplement; and KHC46, an aqueous gold dietary supplement of very low-concentration Au nanoparticles. The company is headquartered in Salt Lake City, Utah.
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