Clene Inc. (NASDAQ:CLNN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Clene Inc. (NASDAQ:CLNNGet Free Report) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $33.25.

CLNN has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and issued a $31.00 target price on shares of Clene in a report on Monday, May 4th. Roth Capital restated a “buy” rating on shares of Clene in a research note on Thursday, May 14th. D. Boral Capital reissued a “buy” rating and issued a $23.00 price objective on shares of Clene in a research note on Monday, May 4th. Finally, Weiss Ratings raised shares of Clene from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 15th.

Read Our Latest Stock Report on CLNN

Clene Stock Down 5.8%

Clene stock opened at $5.48 on Friday. Clene has a 52-week low of $3.25 and a 52-week high of $13.50. The firm’s fifty day moving average is $6.08 and its 200 day moving average is $5.69. The company has a market cap of $70.03 million, a price-to-earnings ratio of -1.71 and a beta of 0.92.

Clene (NASDAQ:CLNNGet Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.05). The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.05 million. On average, equities research analysts anticipate that Clene will post -1.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Clene news, major shareholder Chidozie Ugwumba sold 73,296 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $6.20, for a total value of $454,435.20. Following the completion of the sale, the insider owned 103,417 shares of the company’s stock, valued at approximately $641,185.40. This trade represents a 41.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 193,649 shares of company stock valued at $1,247,348 over the last three months. 28.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clene

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC purchased a new stake in Clene during the 2nd quarter valued at about $47,000. State Street Corp increased its holdings in shares of Clene by 138.4% during the 4th quarter. State Street Corp now owns 29,801 shares of the company’s stock valued at $175,000 after purchasing an additional 17,300 shares in the last quarter. PEAK6 LLC purchased a new position in Clene in the fourth quarter valued at $294,000. Geode Capital Management LLC raised its holdings in Clene by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock worth $482,000 after purchasing an additional 6,090 shares during the period. Finally, Ensign Peak Advisors Inc raised its stake in shares of Clene by 668.6% during the 4th quarter. Ensign Peak Advisors Inc now owns 114,361 shares of the company’s stock worth $671,000 after buying an additional 99,481 shares during the period. 23.28% of the stock is currently owned by institutional investors and hedge funds.

Clene Company Profile

(Get Free Report)

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).

See Also

Analyst Recommendations for Clene (NASDAQ:CLNN)

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