Clene Inc. [CLNN] fell -70.98% so far this year. What now?

Clene Inc. [NASDAQ: CLNN] traded at a high on 11/03/22, posting a 14.42 gain after which it closed the day’ session at $1.19. The company report on October 31, 2022 that Clene Announces $10.8 Million Registered Direct Offering and $5 Million Debt Facility from the State of Maryland.

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The closing of the registered direct offering is expected to occur on or about November 2, 2022, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering are expected to be approximately $10.8 million. The registered direct offering is being made without a placement agent, underwriter, broker or dealer and, as a result, Clene is not paying any underwriter commission or discount. Clene intends to use the proceeds from this offering together with its existing cash for expenses primarily related to general corporate purposes, including to fund the clinical development of its lead drug candidate, CNM-Au8®.

The results of the trading session contributed to over 2749943 shares changing hands. Over the past one week, the price volatility of Clene Inc. stands at 11.95% while the volatility over the past one month is 10.17%.

The market cap for CLNN stock reached $74.82 million, with 63.34 million shares outstanding and 19.96 million shares in the current float. Compared to the average trading volume of 335.22K shares, CLNN reached a trading volume of 2749943 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]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CLNN shares is $9.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CLNN stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Clene Inc. shares, keeping their opinion on the stock as Perform, with their previous recommendation back on October 04, 2022. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on July 18, 2022, representing the official price target for Clene Inc. stock. Previously, the target price had yet another raise to $10, while Canaccord Genuity analysts kept a Buy rating on CLNN stock.

The Average True Range (ATR) for Clene Inc. is set at 0.18, with the Price to Sales ratio for CLNN stock in the period of the last 12 months amounting to 187.04.

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 19.00. With this latest performance, CLNN shares dropped by -34.25% in over the last four-week period, additionally sinking by -58.82% over the last 6 months – not to mention a drop of -74.87% 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 32.69, with the RSI for the last a single of trading hit 39.86, and the three-weeks RSI is set at 32.03 for Clene Inc. [CLNN]. The present Moving Average for the last 50 days of trading for this stock 2.1995, while it was recorded at 1.0520 for the last single week of trading, and 2.8145 for the last 200 days.

Clene Inc. [CLNN]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Clene Inc. [CLNN] shares currently have an operating margin of -6912.59 and a Gross Margin at -64.45. Clene Inc.’s Net Margin is presently recorded at -1347.16.

Return on Equity for this stock declined to -150.56, with Return on Assets sitting at -14.84.

Clene Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.10 and a Current Ratio set at 4.10.

Insider trade positions for Clene Inc. [CLNN]

There are presently around $4 million, or 5.80% of CLNN stock, in the hands of institutional investors. The top three institutional holders of CLNN stocks are: VANGUARD GROUP INC with ownership of 812,529, which is approximately 2.857% of the company’s market cap and around 30.00% of the total institutional ownership; KEPOS CAPITAL LP, holding 600,000 shares of the stock with an approximate value of $0.71 million in CLNN stocks shares; and LAIRD NORTON TRUST COMPANY, LLC, currently with $0.32 million in CLNN stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Clene Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 20 institutional holders increased their position in Clene Inc. [NASDAQ:CLNN] by around 685,242 shares. Additionally, 34 investors decreased positions by around 3,050,591 shares, while 6 investors held positions by with 122,954 shares. The mentioned changes placed institutional holdings at 3,612,879 shares, according to the latest SEC report filing. CLNN stock had 10 new institutional investments in for a total of 545,272 shares, while 17 institutional investors sold positions of 239,791 shares during the same period.


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