Roth Capital Has Bearish Estimate for Clene FY2024 Earnings

Clene Inc. (NASDAQ:CLNN) – Analysts at Roth Capital dropped their FY2024 earnings estimates for Clene in a report issued on Wednesday, November 13th. Roth Capital analyst J. Aschoff now expects that the company will post earnings of ($5.07) per share for the year, down from their previous forecast of ($4.90). The consensus estimate for Clene’s current full-year earnings is ($5.19) per share. Roth Capital also issued estimates for Clene’s Q4 2024 earnings at ($1.11) EPS, FY2025 earnings at ($3.30) EPS, FY2026 earnings at ($2.66) EPS, FY2027 earnings at $6.30 EPS and FY2028 earnings at $8.88 EPS.

Several other equities research analysts have also recently commented on CLNN. Canaccord Genuity Group decreased their target price on Clene from $86.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday. EF Hutton Acquisition Co. I raised shares of Clene to a “strong-buy” rating in a research report on Tuesday, September 10th. Finally, HC Wainwright reissued a “buy” rating and set a $31.00 target price on shares of Clene in a research note on Thursday.

Clene Stock Performance

CLNN stock opened at $4.53 on Monday. The firm has a market cap of $37.87 million, a PE ratio of -0.86 and a beta of 0.42. The company has a current ratio of 0.83, a quick ratio of 0.99 and a debt-to-equity ratio of 1.66. The stock has a 50-day moving average price of $5.43 and a 200-day moving average price of $5.99. Clene has a 1-year low of $3.82 and a 1-year high of $12.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Clene stock. Castleview Partners LLC acquired a new position in shares of Clene Inc. (NASDAQ:CLNN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned about 0.19% of Clene at the end of the most recent reporting period. Hedge funds and other institutional investors own 23.28% of the company’s stock.

Insider Activity

In other Clene news, Director David J. Matlin bought 92,307 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was bought at an average cost of $4.75 per share, with a total value of $438,458.25. Following the completion of the transaction, the director now directly owns 444,491 shares in the company, valued at approximately $2,111,332.25. The trade was a 26.21 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mark Mortenson purchased 20,512 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost of $4.75 per share, for a total transaction of $97,432.00. Following the transaction, the insider now owns 28,949 shares in the company, valued at $137,507.75. This represents a 243.12 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 25.10% of the company’s stock.

Clene Company Profile

Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. Its lead drug candidate is CNM-Au8, which is being studied in various clinical trials, including a completed Phase 2 platform trial to evaluate the safety and efficacy of CNM-Au8 in patients with amyotrophic lateral sclerosis (ALS); completed Phase 2 proof of concept clinical trial in patients with early symptomatic ALS; completed two open-label investigator blinded Phase 2 clinical trials on the brain's energy metabolites; completed Phase 2 clinical trial for the treatment of visual pathway deficits in chronic optic neuropathy for remyelination in stable relapsing Multiple Sclerosis; and a second Phase 2 clinical trial for the treatment of patients with Parkinson's Diseases.