Clene Inc. (NASDAQ:CLNN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Clene Inc. (NASDAQ:CLNN) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $33.00.

CLNN has been the subject of a number of research analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $48.00 price objective on shares of Clene in a report on Friday, March 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Clene in a report on Friday, January 9th. Finally, D. Boral Capital restated a “buy” rating and set a $23.00 price objective on shares of Clene in a report on Thursday, March 12th.

Clene Stock Performance

Shares of NASDAQ:CLNN opened at $6.26 on Wednesday. Clene has a 52-week low of $2.28 and a 52-week high of $13.50. The company has a market capitalization of $73.74 million, a P/E ratio of -2.41 and a beta of 0.62. The company has a 50-day simple moving average of $5.02 and a 200 day simple moving average of $6.65.

Clene (NASDAQ:CLNN) last issued its earnings results on Thursday, March 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.14). The company had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.03 million. As a group, equities analysts forecast that Clene will post -5.19 earnings per share for the current year.

Insider Activity

In other news, major shareholder Chidozie Ugwumba sold 24,925 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $4.81, for a total transaction of $119,889.25. Following the completion of the sale, the insider owned 401,891 shares in the company, valued at $1,933,095.71. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 232,765 shares of company stock worth $1,171,447 in the last three months. Insiders own 35.30% of the company’s stock.

Institutional Investors Weigh In On Clene

Institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new stake in shares of Clene during the third quarter worth approximately $29,000. Jane Street Group LLC acquired a new stake in shares of Clene in the second quarter valued at approximately $47,000. State Street Corp boosted its stake in shares of Clene by 138.4% in the fourth quarter. State Street Corp now owns 29,801 shares of the company’s stock valued at $175,000 after buying an additional 17,300 shares during the period. PEAK6 LLC bought a new stake in shares of Clene in the fourth quarter valued at approximately $294,000. Finally, Lunt Capital Management Inc. boosted its stake in shares of Clene by 2.5% in the third quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock valued at $315,000 after buying an additional 1,250 shares during the period. Institutional investors own 23.28% of the company’s stock.

Clene Company Profile

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).