Zacks: Brokerages Anticipate Clene Inc. (NASDAQ:CLNN) to Post -$0.18 Earnings Per Share

Equities research analysts predict that Clene Inc. (NASDAQ:CLNNGet Rating) will announce earnings per share (EPS) of ($0.18) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Clene’s earnings, with estimates ranging from ($0.18) to ($0.17). Clene posted earnings of ($0.19) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 5.3%. The firm is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that Clene will report full year earnings of ($0.71) per share for the current year, with EPS estimates ranging from ($0.75) to ($0.68). For the next year, analysts anticipate that the company will report earnings of $0.04 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Clene.

Clene (NASDAQ:CLNNGet Rating) last released its quarterly earnings data on Friday, March 11th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.23.

A number of brokerages have recently commented on CLNN. Roth Capital reaffirmed a “buy” rating on shares of Clene in a report on Monday, February 14th. Zacks Investment Research cut shares of Clene from a “buy” rating to a “hold” rating in a research note on Wednesday, January 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $14.75.

In other news, Director David J. Matlin bought 35,000 shares of Clene stock in a transaction on Monday, March 21st. The shares were bought at an average cost of $2.90 per share, for a total transaction of $101,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David J. Matlin bought 101,352 shares of Clene stock in a transaction on Tuesday, February 1st. The stock was purchased at an average price of $2.96 per share, for a total transaction of $300,001.92. The disclosure for this purchase can be found here. Insiders purchased a total of 186,352 shares of company stock worth $547,102 over the last quarter. Insiders own 28.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Morgan Stanley lifted its holdings in Clene by 110.5% in the 1st quarter. Morgan Stanley now owns 2,105 shares of the company’s stock valued at $27,000 after purchasing an additional 1,105 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Clene in the 4th quarter valued at about $62,000. Bank of America Corp DE increased its stake in shares of Clene by 7,045.1% during the 2nd quarter. Bank of America Corp DE now owns 5,859 shares of the company’s stock valued at $66,000 after acquiring an additional 5,777 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Clene during the 4th quarter valued at about $91,000. Finally, Parametric Portfolio Associates LLC acquired a new position in shares of Clene during the 4th quarter valued at about $130,000. Institutional investors own 15.24% of the company’s stock.

Shares of Clene stock opened at $3.00 on Wednesday. The firm’s fifty day simple moving average is $3.04 and its 200-day simple moving average is $4.08. The stock has a market capitalization of $189.41 million, a price-to-earnings ratio of -13.64 and a beta of 0.11. Clene has a 12 month low of $2.36 and a 12 month high of $17.82. The company has a debt-to-equity ratio of 1.52, a current ratio of 9.06 and a quick ratio of 9.05.

Clene Company Profile (Get Rating)

Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. Its lead drug is CNM-Au8, which is being studied in various clinical trials, including a Phase 2/3 registrational clinical trial for 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; ongoing Phase 2 clinical trial for the treatment of visual pathway deficits in chronic optic neuropathy for remyelination in stable relapsing Multiple Sclerosis; and a planned Phase 2 clinical trial for the treatment of patients with Parkinson's Diseases.

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