Shares of Clene Inc. (NASDAQ:CLNN – Get Free Report) have earned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $33.25.
Several analysts recently weighed in on the stock. D. Boral Capital reiterated a “buy” rating and issued a $23.00 price target on shares of Clene in a report on Monday, May 4th. Weiss Ratings lowered shares of Clene from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $48.00 target price on shares of Clene in a research report on Friday, March 13th. HC Wainwright reaffirmed a “buy” rating and set a $31.00 target price on shares of Clene in a research note on Monday, May 4th. Finally, Roth Mkm reiterated a “buy” rating on shares of Clene in a research report on Thursday, May 14th.
Read Our Latest Report on Clene
Clene Stock Performance
Clene (NASDAQ:CLNN – Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.05). The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.05 million. Sell-side analysts predict that Clene will post -1.58 earnings per share for the current year.
Insiders Place Their Bets
In other Clene news, major shareholder Chidozie Ugwumba sold 73,296 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $6.20, for a total transaction of $454,435.20. Following the transaction, the insider owned 103,417 shares in the company, valued at approximately $641,185.40. This represents a 41.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 327,677 shares of company stock worth $2,043,481. Insiders own 28.30% of the company’s stock.
Institutional Investors Weigh In On Clene
Hedge funds have recently made changes to their positions in the company. Lunt Capital Management Inc. grew its stake in Clene by 2.5% in the third quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock worth $315,000 after purchasing an additional 1,250 shares during the period. Jones Financial Companies Lllp purchased a new position in Clene during the third quarter valued at $29,000. Geode Capital Management LLC lifted its position in Clene by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock valued at $482,000 after buying an additional 6,090 shares during the period. Jane Street Group LLC bought a new stake in shares of Clene during the 2nd quarter valued at $47,000. Finally, State Street Corp grew its position in shares of Clene by 138.4% in the 4th quarter. State Street Corp now owns 29,801 shares of the company’s stock worth $175,000 after buying an additional 17,300 shares during the period. 23.28% of the stock is currently owned by institutional investors.
About Clene
Clene (NASDAQ: CLNN), also known as Clene Nanomedicine, is a clinical-stage biopharmaceutical company developing proprietary nanoparticle therapies aimed at treating neurodegenerative and demyelinating disorders. The company’s flagship product, CNM-Au8, is a suspension of catalytic gold nanocrystals designed to enhance cellular energy metabolism, promote remyelination, and reduce oxidative stress. Clene’s platform leverages the unique physicochemical properties of its nanoparticles to support neuronal health, with a focus on diseases that currently lack effective disease-modifying treatments.
Clene’s lead candidate, CNM-Au8, is undergoing multiple clinical trials targeting conditions such as amyotrophic lateral sclerosis (ALS), Parkinson’s disease, and multiple sclerosis (MS).
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