Clene Inc. (NASDAQ:CLNN) Receives $33.25 Average Target Price from Analysts

Clene Inc. (NASDAQ:CLNN) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $34.00.

A number of equities research analysts have recently commented on CLNN shares. HC Wainwright reaffirmed a “buy” rating on shares of Clene in a research report on Monday, August 17th. Weiss Ratings lowered Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 27th.

Clene Stock Down 2.2%

CLNN opened at $3.57 on Friday. The stock has a market cap of $45.87 million, a P/E ratio of -1.02 and a beta of 0.95. Clene has a 12 month low of $3.48 and a 12 month high of $13.50. The company has a fifty day simple moving average of $4.90 and a 200 day simple moving average of $5.59.

Clene (NASDAQ:CLNN) last posted its earnings results on Friday, August 14th. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.71). The business had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.06 million. On average, equities research analysts expect that Clene will post -1.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CLNN. PEAK6 LLC acquired a new stake in shares of Clene during the fourth quarter worth $294,000. State Street Corp boosted its stake in 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 purchasing an additional 17,300 shares during the period. Scoggin Management LP increased its holdings in Clene by 42.7% during 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 in the last quarter. SymBiosis Capital Partners LLC bought a new position in Clene during the 4th quarter worth about $4,523,000. Finally, Ensign Peak Advisors Inc raised its stake in shares of Clene by 668.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 114,361 shares of the company’s stock valued at $671,000 after purchasing an additional 99,481 shares during the period. Institutional investors and hedge funds 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).