Clene (NASDAQ:CLNN) Releases Quarterly Earnings Results, Beats Expectations By $0.51 EPS

Clene (NASDAQ:CLNN) posted its quarterly earnings results on Wednesday. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.51, FiscalAI reports. The business had revenue of $0.06 million during the quarter.

Clene Price Performance

CLNN stock traded up $0.41 during midday trading on Wednesday, reaching $4.18. The company had a trading volume of 75,316 shares, compared to its average volume of 212,118. Clene has a 1 year low of $3.02 and a 1 year high of $11.59. The company has a market capitalization of $54.36 million, a P/E ratio of -1.20 and a beta of 1.04. The firm has a 50-day moving average price of $3.92 and a 200-day moving average price of $5.15.

Analysts Set New Price Targets

CLNN has been the topic of a number of recent research reports. HC Wainwright reissued a “buy” rating on shares of Clene in a report on Monday, October 19th. Weiss Ratings lowered Clene from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 27th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Clene has an average rating of “Moderate Buy” and an average price target of $34.00.

Clene Company Profile

Clene Inc is a clinical-stage biopharmaceutical company developing nanotherapeutic treatments for neurodegenerative diseases. The company’s lead product candidate, CNM-Au8, is an investigational oral suspension containing catalytically active gold nanocrystals designed to support cellular energy production and reduce oxidative stress, with the goal of protecting and improving the function of nerve cells.

Clene has studied CNM-Au8 in conditions including amyotrophic lateral sclerosis (ALS) and multiple sclerosis (MS), and has also investigated its potential applications in other neurodegenerative disorders.