Brokerages Set Clene Inc. (NASDAQ:CLNN) PT at $32.60

Shares of Clene Inc. (NASDAQ:CLNN) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $32.60.

Several research analysts have recently weighed in on the company. UBS Group restated a “buy” rating on shares of Clene in a report on Wednesday, December 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a research note on Friday, January 9th. D. Boral Capital restated a “buy” rating and issued a $23.00 target price on shares of Clene in a report on Friday, January 9th. Finally, Benchmark reiterated a “buy” rating on shares of Clene in a report on Thursday, December 4th.

Clene Stock Down 2.0%

Shares of CLNN opened at $5.31 on Friday. Clene has a 52-week low of $2.28 and a 52-week high of $13.50. The stock has a market cap of $57.61 million, a PE ratio of -1.57 and a beta of 0.87. The firm’s fifty day moving average is $6.75 and its two-hundred day moving average is $6.53.

Clene (NASDAQ:CLNN) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.25). The firm had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.06 million. As a group, research analysts anticipate that Clene will post -5.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Chidozie Ugwumba sold 5,556 shares of the company’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $5.27, for a total value of $29,280.12. Following the transaction, the insider owned 599,603 shares of the company’s stock, valued at $3,159,907.81. This represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David J. Matlin purchased 33,333 shares of the stock in a transaction dated Tuesday, January 13th. The shares were acquired at an average price of $6.50 per share, with a total value of $216,664.50. Following the completion of the acquisition, the director owned 477,824 shares in the company, valued at approximately $3,105,856. This trade represents a 7.50% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 475,636 shares of company stock worth $2,920,463 in the last 90 days. Company insiders own 35.30% of the company’s stock.

Institutional Investors Weigh In On Clene

Institutional investors and hedge funds have recently made changes to their positions in the stock. Scoggin Management LP lifted its holdings in shares of Clene by 75.1% in the 3rd quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock worth $1,506,000 after acquiring an additional 107,250 shares during the last quarter. Lunt Capital Management Inc. raised its holdings 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 purchasing an additional 1,250 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in Clene during the 3rd quarter worth about $29,000. Finally, Jane Street Group LLC purchased a new stake in Clene during the second quarter worth approximately $47,000. 23.28% of the stock is owned by hedge funds and other institutional investors.

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).