HC Wainwright Has Strong Forecast for Clene FY2024 Earnings

Clene Inc. (NASDAQ:CLNN) – Equities research analysts at HC Wainwright increased their FY2024 EPS estimates for shares of Clene in a research report issued to clients and investors on Wednesday, November 13th. HC Wainwright analyst J. Pantginis now expects that the company will post earnings of ($5.31) per share for the year, up from their previous estimate of ($5.62). HC Wainwright has a “Buy” rating and a $31.00 price target on the stock. The consensus estimate for Clene’s current full-year earnings is ($5.19) per share. HC Wainwright also issued estimates for Clene’s Q4 2024 earnings at ($1.31) EPS, FY2025 earnings at ($5.00) EPS, FY2026 earnings at ($2.77) EPS, FY2027 earnings at $0.75 EPS and FY2028 earnings at $5.53 EPS.

Several other equities research analysts also recently issued reports on CLNN. EF Hutton Acquisition Co. I raised shares of Clene to a “strong-buy” rating in a research note on Tuesday, September 10th. Canaccord Genuity Group decreased their price objective on shares of Clene from $86.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

Clene Stock Performance

NASDAQ CLNN opened at $4.40 on Monday. Clene has a 1-year low of $3.82 and a 1-year high of $12.00. The business’s 50-day simple moving average is $5.40 and its 200-day simple moving average is $5.96. The firm has a market capitalization of $36.78 million, a P/E ratio of -0.83 and a beta of 0.42. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.83 and a quick ratio of 0.99.

Insiders Place Their Bets

In other news, Director David J. Matlin purchased 92,307 shares of the business’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 purchase, the director now directly owns 444,491 shares of the company’s stock, valued at approximately $2,111,332.25. This trade represents a 26.21 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Mortenson purchased 20,512 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were acquired at an average price of $4.75 per share, for a total transaction of $97,432.00. Following the purchase, the insider now owns 28,949 shares in the company, valued at $137,507.75. The trade was a 243.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 25.10% of the company’s stock.

Institutional Trading of Clene

A hedge fund recently bought a new stake in Clene stock. Castleview Partners LLC bought a new position in shares of Clene Inc. (NASDAQ:CLNN) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned approximately 0.19% of Clene as of its most recent SEC filing. 23.28% of the stock is currently owned by hedge funds and other institutional investors.

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.