Oppenheimer Analysts Boost Earnings Estimates for Clene Inc. (NASDAQ:CLNN)

Clene Inc. (NASDAQ:CLNNGet Rating) – Oppenheimer boosted their Q2 2022 EPS estimates for shares of Clene in a report issued on Tuesday, May 10th. Oppenheimer analyst L. Gershell now anticipates that the company will post earnings per share of ($0.19) for the quarter, up from their previous forecast of ($0.20). Oppenheimer also issued estimates for Clene’s Q3 2022 earnings at ($0.15) EPS, Q4 2022 earnings at ($0.14) EPS, FY2022 earnings at ($0.67) EPS and FY2025 earnings at $10.39 EPS.

Several other brokerages have also recently commented on CLNN. Roth Capital reaffirmed a “buy” rating on shares of Clene in a research note on Monday, February 14th. Canaccord Genuity Group initiated coverage on shares of Clene in a research note on Monday, May 2nd. They set a “buy” rating and a $10.00 price objective for the company. Canaccord Genuity Group started coverage on shares of Clene in a research note on Monday, May 2nd. They set a “buy” rating and a $10.00 price objective for the company. Finally, Zacks Investment Research raised shares of Clene from a “sell” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $13.17.

Shares of NASDAQ:CLNN opened at $2.10 on Friday. The company has a 50 day moving average of $2.95 and a 200 day moving average of $3.65. The stock has a market cap of $132.84 million, a P/E ratio of 9.13 and a beta of 0.37. Clene has a 12 month low of $2.01 and a 12 month high of $17.82. The company has a current ratio of 9.06, a quick ratio of 9.05 and a debt-to-equity ratio of 1.52.

Clene (NASDAQ:CLNNGet Rating) last issued its quarterly earnings data on Friday, March 11th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The company had revenue of $0.20 million for the quarter, compared to the consensus estimate of $0.14 million.

Large investors have recently bought and sold shares of the stock. Morgan Stanley raised its holdings in Clene by 110.5% during the 1st quarter. Morgan Stanley now owns 2,105 shares of the company’s stock valued at $27,000 after buying an additional 1,105 shares during the last quarter. Bank of America Corp DE raised its holdings in 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 buying an additional 5,777 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Clene by 9,823.7% during the 2nd quarter. Wells Fargo & Company MN now owns 13,000 shares of the company’s stock valued at $146,000 after buying an additional 12,869 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Clene in the 4th quarter worth $62,000. Finally, Veritable L.P. bought a new position in Clene in the 1st quarter worth $79,000. Institutional investors own 23.07% of the company’s stock.

In other Clene news, Director David J. Matlin acquired 10,000 shares of the stock in a transaction dated Monday, March 28th. The stock was purchased at an average cost of $3.10 per share, for a total transaction of $31,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David J. Matlin acquired 132,891 shares of the stock in a transaction dated Wednesday, April 20th. The stock was acquired at an average price of $3.01 per share, with a total value of $400,001.91. Following the completion of the acquisition, the director now owns 1,844,288 shares in the company, valued at approximately $5,551,306.88. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 217,891 shares of company stock valued at $647,102. Company insiders own 28.70% of the company’s stock.

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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