Clene (NASDAQ:CLNN) Receives Buy Rating from Canaccord Genuity Group

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reissued by stock analysts at Canaccord Genuity Group in a note issued to investors on Friday,Benzinga reports. They presently have a $48.00 price target on the stock.

Other analysts also recently issued reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a research note on Friday, January 9th. UBS Group reiterated a “buy” rating on shares of Clene in a report on Wednesday, December 3rd. D. Boral Capital restated a “buy” rating and set a $23.00 price objective on shares of Clene in a research note on Thursday. Finally, Benchmark reaffirmed a “buy” rating on shares of Clene in a report on Thursday, December 4th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Clene has an average rating of “Moderate Buy” and an average price target of $32.60.

Clene Stock Performance

Shares of NASDAQ CLNN traded down $0.16 during midday trading on Friday, hitting $5.76. 100,833 shares of the stock traded hands, compared to its average volume of 90,167. Clene has a one year low of $2.28 and a one year high of $13.50. The business has a 50 day moving average price of $4.98 and a two-hundred day moving average price of $6.70. The company has a market cap of $62.50 million, a PE ratio of -1.70 and a beta of 0.62.

Clene (NASDAQ:CLNN) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.14). The company had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.03 million. As a group, equities research analysts forecast that Clene will post -5.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director David J. Matlin bought 33,333 shares of the stock in a transaction on Tuesday, January 13th. The shares were purchased at an average cost of $6.50 per share, for a total transaction of $216,664.50. Following the completion of the purchase, the director directly owned 477,824 shares in the company, valued at $3,105,856. This represents a 7.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Chidozie Ugwumba sold 32,705 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $5.50, for a total transaction of $179,877.50. Following the sale, the insider directly owned 708,587 shares in the company, valued at approximately $3,897,228.50. This trade represents a 4.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 293,754 shares of company stock valued at $1,587,329 in the last 90 days. Corporate insiders own 35.30% of the company’s stock.

Hedge Funds Weigh In On Clene

Large investors have recently modified their holdings of the business. Jane Street Group LLC purchased a new stake in shares of Clene during the 2nd quarter valued at approximately $47,000. Scoggin Management LP grew its stake in Clene by 42.8% in the 2nd quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock valued at $558,000 after buying an additional 42,750 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in Clene during the 3rd quarter valued at $29,000. Lunt Capital Management Inc. lifted its position in shares of Clene by 2.5% during the third quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock worth $315,000 after acquiring an additional 1,250 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Clene by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock worth $482,000 after acquiring an additional 6,090 shares in the last quarter. Hedge funds and other institutional investors own 23.28% of the company’s stock.

Clene Company Profile

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).