Roth Capital Has Bearish Forecast for Clene FY2028 Earnings

Clene Inc. (NASDAQ:CLNN) – Equities researchers at Roth Capital reduced their FY2028 EPS estimates for shares of Clene in a research note issued on Friday, August 15th. Roth Capital analyst J. Aschoff now forecasts that the company will post earnings of $7.43 per share for the year, down from their previous forecast of $7.87. The consensus estimate for Clene’s current full-year earnings is ($5.19) per share. Roth Capital also issued estimates for Clene’s FY2029 earnings at $10.54 EPS.

Clene (NASDAQ:CLNN) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.29). The business had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.06 million.

Several other brokerages have also commented on CLNN. Jones Trading initiated coverage on shares of Clene in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $30.00 price target on the stock. Benchmark dropped their price target on shares of Clene from $84.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Wall Street Zen lowered shares of Clene from a “hold” rating to a “strong sell” rating in a research note on Saturday. Canaccord Genuity Group dropped their price target on shares of Clene from $83.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday. Finally, D. Boral Capital restated a “buy” rating and set a $23.00 target price on shares of Clene in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Clene Stock Up 17.1%

Shares of Clene stock opened at $4.24 on Monday. The firm has a market capitalization of $42.36 million, a P/E ratio of -1.13 and a beta of 0.55. Clene has a 52 week low of $2.28 and a 52 week high of $6.90. The firm’s 50 day moving average is $3.86 and its two-hundred day moving average is $3.67.

Hedge Funds Weigh In On Clene

A number of hedge funds have recently modified their holdings of CLNN. Scoggin Management LP lifted its holdings in shares of Clene by 42.8% during the second quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock worth $558,000 after purchasing an additional 42,750 shares during the period. Jane Street Group LLC acquired a new stake in shares of Clene during the second quarter worth $47,000. Lunt Capital Management Inc. lifted its holdings in shares of Clene by 71.2% during the second quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock worth $199,000 after purchasing an additional 21,217 shares during the period. Penn Davis Mcfarland Inc. acquired a new stake in shares of Clene during the first quarter worth $34,000. Finally, Fullcircle Wealth LLC acquired a new stake in Clene in the fourth quarter valued at $69,000. 23.28% of the stock is currently owned by hedge funds and other institutional investors.

About Clene

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