Brokerages Anticipate Clene Inc. (NASDAQ:CLNN) Will Post Quarterly Sales of $130,000.00

Wall Street brokerages expect Clene Inc. (NASDAQ:CLNN – Get Rating) to announce sales of $130,000.00 for the current quarter, according to Zacks. Two analysts have made estimates for Clene’s earnings. The highest sales estimate is $150,000.00 and the lowest is $100,000.00. Clene posted sales of $210,000.00 during the same quarter last year, which indicates a negative year-over-year growth rate of 38.1%. The firm is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Clene will report full year sales of $500,000.00 for the current financial year, with estimates ranging from $400,000.00 to $600,000.00. For the next year, analysts expect that the business will report sales of $75.50 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Clene.

Clene (NASDAQ:CLNN – Get Rating) last issued its quarterly earnings data on Friday, March 11th. The company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.23.

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

Shares of NASDAQ CLNN opened at $3.00 on Friday. The business’s 50 day moving average is $3.05 and its two-hundred day moving average is $4.04. 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 has a 1-year low of $2.36 and a 1-year high of $17.82. The stock has a market capitalization of $189.74 million, a P/E ratio of -13.64 and a beta of 0.11.

In related news, Director David J. Matlin bought 101,352 shares of the stock in a transaction on Tuesday, February 1st. The stock was bought at an average price of $2.96 per share, for a total transaction of $300,001.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David J. Matlin bought 35,000 shares of the stock in a transaction on Monday, March 21st. The shares were bought at an average price of $2.90 per share, with a total value of $101,500.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 319,243 shares of company stock worth $947,104. 28.70% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. Soltis Investment Advisors LLC purchased a new stake in Clene during the third quarter worth $1,495,000. Morgan Jess S & Co. Inc. purchased a new position in Clene in the 3rd quarter worth $203,000. Laird Norton Trust Company LLC raised its stake in Clene by 7.6% in the 3rd quarter. Laird Norton Trust Company LLC now owns 268,581 shares of the company’s stock worth $1,834,000 after acquiring an additional 19,020 shares during the last quarter. Marshall Wace LLP purchased a new position in Clene in the 4th quarter worth $159,000. Finally, Wells Fargo & Company MN raised its stake in Clene by 9,823.7% in the 2nd quarter. Wells Fargo & Company MN now owns 13,000 shares of the company’s stock worth $146,000 after acquiring an additional 12,869 shares during the last quarter. Institutional investors own 15.24% of the company’s stock.

About Clene (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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