Clene Inc. [NASDAQ: CLNN] jumped around 6.67 points on Wednesday, while shares priced at $13.21 at the close of the session, up 101.99%. The company report on January 19, 2021 that Clene Nanomedicine Receives Patent Notice of Allowance in the United States for using Gold Nanocrystals for the Treatment of Multiple Sclerosis.
Resulting patent to cover methods of using Clene’s lead candidate CNM-Au8, now in Phase 2 and 3 trials for Multiple Sclerosis (MS) and Amyotrophic lateral sclerosis (ALS).
Latest patent allowance adds to Clene’s robust IP estate including over 130 patents issued and pending applications.
Compared to the average trading volume of 74.52K shares, CLNN reached a trading volume of 6041534 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Clene Inc. [CLNN]?
The Average True Range (ATR) for Clene Inc. is set at 1.34, with the Price to Sales ratio for CLNN stock in the period of the last 12 months amounting to 4511.55. The Price to Book ratio for the last quarter was 1.33, with the Price to Cash per share for the same quarter was set at 0.01.
How has CLNN stock performed recently?
Clene Inc. [CLNN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 101.68. With this latest performance, CLNN shares gained by 74.50% in over the last four-week period, additionally plugging by 24.39% over the last 6 months – not to mention a rise of 33.43% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CLNN stock in for the last two-week period is set at 77.09, with the RSI for the last a single of trading hit 85.67, and the three-weeks RSI is set at 68.13 for Clene Inc. [CLNN], while it was recorded at 7.84 for the last single week of trading.
Clene Inc. [CLNN]: Deeper insight into the fundamentals
Clene Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.
Insider trade positions for Clene Inc. [CLNN]
There are presently around $28 million, or 3.60% of CLNN stock, in the hands of institutional investors. The top three institutional holders of CLNN stocks are: GLAZER CAPITAL, LLC with ownership of 364,448, which is approximately 190.233% of the company’s market cap and around 11.10% of the total institutional ownership; BASSO CAPITAL MANAGEMENT, L.P., holding 334,624 shares of the stock with an approximate value of $4.42 million in CLNN stocks shares; and YAKIRA CAPITAL MANAGEMENT, INC., currently with $3.83 million in CLNN stock with ownership of nearly New of the company’s market capitalization.
6 institutional holders increased their position in Clene Inc. [NASDAQ:CLNN] by around 768,702 shares. Additionally, 11 investors decreased positions by around 1,207,399 shares, while 7 investors held positions by with 114,996 shares. The mentioned changes placed institutional holdings at 2,091,097 shares, according to the latest SEC report filing. CLNN stock had 3 new institutional investments in for a total of 411,202 shares, while 2 institutional investors sold positions of 27,319 shares during the same period.