Clene (NASDAQ:CLNN) Announces Quarterly Earnings Results

Clene (NASDAQ:CLNN) announced its quarterly earnings data on Thursday. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.05), FiscalAI reports. The firm had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.05 million.

Clene Trading Up 4.3%

NASDAQ CLNN traded up $0.28 on Thursday, hitting $6.78. 167,275 shares of the company were exchanged, compared to its average volume of 361,338. The company has a market cap of $79.83 million, a P/E ratio of -2.62 and a beta of 0.89. Clene has a 1-year low of $2.28 and a 1-year high of $13.50. The firm has a 50 day moving average of $5.94 and a two-hundred day moving average of $6.39.

Wall Street Analyst Weigh In

Several research firms recently commented on CLNN. Weiss Ratings upgraded shares of Clene from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 8th. Canaccord Genuity Group reiterated a “buy” rating and issued a $48.00 target price on shares of Clene in a research note on Friday, March 13th. D. Boral Capital reiterated a “buy” rating and issued a $23.00 target price on shares of Clene in a research note on Monday, May 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $31.00 target price on shares of Clene in a research note on Monday, May 4th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Clene presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.25.

Insider Activity at Clene

In other news, major shareholder Chidozie Ugwumba sold 73,296 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $6.20, for a total value of $454,435.20. Following the completion of the sale, the insider directly owned 103,417 shares of the company’s stock, valued at $641,185.40. This represents a 41.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 327,677 shares of company stock valued at $2,043,481. Corporate insiders own 28.30% of the company’s stock.

Hedge Funds Weigh In On Clene

A number of large investors have recently bought and sold shares of CLNN. Geode Capital Management LLC boosted its holdings in shares of Clene by 8.0% in the 4th 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. Jane Street Group LLC bought a new stake in shares of Clene during the 2nd quarter worth approximately $47,000. State Street Corp lifted its holdings in shares of Clene by 138.4% during the 4th quarter. State Street Corp now owns 29,801 shares of the company’s stock worth $175,000 after acquiring an additional 17,300 shares during the period. Scoggin Management LP lifted its holdings in shares of Clene by 42.8% during the 2nd quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock worth $558,000 after acquiring an additional 42,750 shares during the period. Finally, PEAK6 LLC bought a new position in Clene in the fourth quarter valued at about $294,000. Institutional investors and hedge funds 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).