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

Shares of Clene Inc. (NASDAQ:CLNN) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $33.25.

CLNN has been the subject of several research analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $48.00 price target on shares of Clene in a report on Friday, March 13th. HC Wainwright restated a “buy” rating and set a $31.00 price target on shares of Clene in a report on Monday, May 4th. Roth Mkm restated a “buy” rating on shares of Clene in a report on Thursday, May 14th. Weiss Ratings cut Clene from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 26th. Finally, D. Boral Capital restated a “buy” rating and set a $23.00 price target on shares of Clene in a report on Monday, May 4th.

Clene Price Performance

NASDAQ CLNN opened at $5.76 on Thursday. The stock has a market capitalization of $73.61 million, a PE ratio of -1.80 and a beta of 0.91. The business has a 50 day simple moving average of $6.22 and a two-hundred day simple moving average of $6.06. Clene has a 1-year low of $3.25 and a 1-year high of $13.50.

Clene (NASDAQ:CLNN) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.05). The business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. On average, analysts anticipate that Clene will post -1.58 EPS for the current fiscal year.

Insider Activity at Clene

In other news, major shareholder Chidozie Ugwumba sold 73,296 shares of Clene stock in a transaction that occurred on 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 transaction, the insider owned 103,417 shares in the company, valued at approximately $641,185.40. The trade was a 41.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 327,677 shares of company stock valued at $2,043,481. 28.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clene

A number of institutional investors and hedge funds have recently modified their holdings of CLNN. Jane Street Group LLC purchased a new position in shares of Clene in the 2nd quarter worth approximately $47,000. Scoggin Management LP boosted its holdings in shares of Clene by 42.8% in the 2nd quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock worth $558,000 after purchasing an additional 42,750 shares during the period. Jones Financial Companies Lllp purchased a new position in shares of Clene in the 3rd quarter worth approximately $29,000. Lunt Capital Management Inc. boosted its holdings in shares of Clene by 2.5% in the 3rd 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. Finally, Geode Capital Management LLC boosted its holdings in shares of 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. 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).