Clene (NASDAQ:CLNN) Stock Price Up 1.3% – Here’s Why

Clene Inc. (NASDAQ:CLNN) shot up 1.3% on Thursday . The company traded as high as $6.07 and last traded at $6.01. Approximately 66,246 shares were traded during trading, a decline of 36% from the average session volume of 102,774 shares. The stock had previously closed at $5.93.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings upgraded shares of Clene from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. Roth Mkm restated a “buy” rating on shares of Clene in a report on Thursday, May 14th. D. Boral Capital reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Clene in a research report on Monday, May 4th. Canaccord Genuity Group reiterated a “buy” rating and set a $48.00 price objective on shares of Clene in a research note on Friday, March 13th. Finally, HC Wainwright reissued a “buy” rating and set a $31.00 target price on shares of Clene in a research report on Monday, May 4th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.25.

Clene Trading Up 1.3%

The stock has a 50-day moving average price of $6.30 and a two-hundred day moving average price of $5.79. The stock has a market cap of $76.81 million, a price-to-earnings ratio of -1.88 and a beta of 0.91.

Clene (NASDAQ:CLNN) last announced its earnings results on Thursday, May 14th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.05). The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.05 million. Research analysts predict that Clene Inc. will post -1.58 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Chidozie Ugwumba sold 73,296 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $6.20, for a total value of $454,435.20. Following the completion of the transaction, the insider directly owned 103,417 shares of the company’s stock, valued at $641,185.40. This trade represents a 41.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 327,677 shares of company stock worth $2,043,481 in the last 90 days. Corporate insiders own 28.30% of the company’s stock.

Institutional Trading of Clene

Large investors have recently bought and sold shares of the stock. SymBiosis Capital Partners LLC purchased a new position in shares of Clene in the fourth quarter worth $4,523,000. Scoggin Management LP grew its holdings in shares of Clene by 75.1% during the third quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock valued at $1,506,000 after buying an additional 107,250 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of Clene by 668.6% during the fourth quarter. Ensign Peak Advisors Inc now owns 114,361 shares of the company’s stock valued at $671,000 after buying an additional 99,481 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 valued at $482,000 after buying an additional 6,090 shares during the last quarter. Finally, Lunt Capital Management Inc. increased its position 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 valued at $315,000 after acquiring an additional 1,250 shares during the period. Hedge funds and other institutional investors own 23.28% of the company’s stock.

About Clene

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).