Clene Inc. (NASDAQ:CLNN) Stock Rated “Moderate Buy” by Sell-Side Analysts

Clene Inc. (NASDAQ:CLNN) has received an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $34.00.

A number of brokerages have recently issued reports on CLNN. HC Wainwright reaffirmed a “buy” rating on shares of Clene in a report on Monday, August 17th. Weiss Ratings downgraded Clene from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, September 25th.

Institutional Trading of Clene

An institutional investor recently bought a new stake in Clene stock. PEAK6 LLC acquired a new stake in shares of Clene Inc. (NASDAQ:CLNN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,012 shares of the company’s stock, valued at approximately $294,000. PEAK6 LLC owned 0.46% of Clene as of its most recent SEC filing. 23.28% of the stock is currently owned by institutional investors.

Clene Price Performance

Shares of NASDAQ:CLNN opened at $3.87 on Wednesday. The company has a market capitalization of $50.27 million, a PE ratio of -1.11 and a beta of 0.91. The business has a fifty day moving average price of $4.30 and a 200-day moving average price of $5.43. Clene has a 1-year low of $3.25 and a 1-year high of $13.50.

Clene (NASDAQ:CLNN) last issued its earnings results on Friday, August 14th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.71). The business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.06 million. On average, sell-side analysts anticipate that Clene will post -1.7 earnings per share for the current fiscal year.

Clene Company Profile

Clene Inc (NASDAQ: CLNN) is a clinical-stage biopharmaceutical company developing nanotherapeutic medicines for neurodegenerative diseases. The company’s platform uses clean-surfaced nanocrystals designed to influence cellular energy production and support the health and function of nerve cells.

Clene’s lead product candidate is CNM-Au8, an orally administered suspension of gold nanocrystals. The company has studied CNM-Au8 in conditions including amyotrophic lateral sclerosis (ALS), multiple sclerosis and Parkinson’s disease, with research focused on potential neuroprotective and remyelinating effects.