Clene (NASDAQ:CLNN) Posts Earnings Results, Beats Expectations By $0.50 EPS

Clene (NASDAQ:CLNN) issued its earnings results on Wednesday. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.50, FiscalAI reports. The business had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.07 million.

Clene Price Performance

NASDAQ CLNN traded down $0.04 during mid-day trading on Friday, reaching $3.92. The stock had a trading volume of 25,544 shares, compared to its average volume of 210,971. Clene has a 1 year low of $3.02 and a 1 year high of $10.84. The stock has a market cap of $51.00 million, a PE ratio of -1.51 and a beta of 1.04. The company has a fifty day moving average price of $3.90 and a 200 day moving average price of $5.14.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 27th. HC Wainwright reaffirmed a “buy” rating on shares of Clene in a research report on Monday, October 19th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Clene currently has an average rating of “Moderate Buy” and an average target price of $34.00.

About Clene

Clene Inc is a clinical-stage biopharmaceutical company developing nanotherapeutic treatments for neurodegenerative diseases. The company’s lead product candidate, CNM-Au8, is an investigational oral suspension containing catalytically active gold nanocrystals designed to support cellular energy production and reduce oxidative stress, with the goal of protecting and improving the function of nerve cells.

Clene has studied CNM-Au8 in conditions including amyotrophic lateral sclerosis (ALS) and multiple sclerosis (MS), and has also investigated its potential applications in other neurodegenerative disorders.