Clene’s (CLNN) “Buy” Rating Reiterated at HC Wainwright

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $31.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 362.62% from the company’s current price.

Several other research analysts also recently weighed in on the stock. D. Boral Capital restated a “buy” rating and set a $23.00 price target on shares of Clene in a research report on Monday. Weiss Ratings downgraded shares of Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 22nd. Finally, Canaccord Genuity Group restated a “buy” rating and set a $48.00 price target on shares of Clene in a research report on Friday, March 13th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.25.

Clene Stock Performance

Shares of CLNN traded up $0.56 during mid-day trading on Monday, hitting $6.70. 17,682,319 shares of the company were exchanged, compared to its average volume of 297,422. Clene has a 1-year low of $2.28 and a 1-year high of $13.50. The company has a 50 day moving average of $5.68 and a 200-day moving average of $6.47. The stock has a market cap of $78.94 million, a price-to-earnings ratio of -2.58 and a beta of 0.89.

Clene (NASDAQ:CLNN) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.88) earnings per share 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 analysts’ expectations of $0.03 million. Research analysts anticipate that Clene will post -1.99 earnings per share for the current fiscal year.

Insider Transactions at Clene

In related news, major shareholder Chidozie Ugwumba sold 5,736 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $6.08, for a total transaction of $34,874.88. Following the completion of the sale, the insider owned 277,569 shares of the company’s stock, valued at approximately $1,687,619.52. This represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 159,084 shares of company stock worth $931,704. 28.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Clene

Several large investors have recently bought and sold shares of CLNN. Jones Financial Companies Lllp purchased a new stake in Clene during the 3rd quarter valued at about $29,000. Jane Street Group LLC purchased a new stake in shares of Clene in the 2nd quarter valued at approximately $47,000. State Street Corp grew its stake in shares of Clene by 138.4% in the 4th 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 purchased a new stake in shares of Clene in the 4th quarter valued at approximately $294,000. Finally, Lunt Capital Management Inc. grew its stake in shares of Clene by 2.5% in the 3rd 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. Hedge funds and other 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).