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

Shares of Clene Inc. (NASDAQ:CLNN) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $32.60.

Several analysts have recently weighed in on the stock. UBS Group reissued a “buy” rating on shares of Clene in a research note on Wednesday, December 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clene in a research report on Friday, January 9th. Benchmark reiterated a “buy” rating on shares of Clene in a research report on Thursday, December 4th. Canaccord Genuity Group reissued a “buy” rating and set a $48.00 target price on shares of Clene in a research note on Friday. Finally, D. Boral Capital restated a “buy” rating and issued a $23.00 target price on shares of Clene in a research report on Thursday, March 12th.

Insider Activity

In related news, major shareholder Chidozie Ugwumba sold 15,284 shares of the business’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $4.32, for a total value of $66,026.88. Following the sale, the insider directly owned 565,045 shares in the company, valued at approximately $2,440,994.40. The trade was a 2.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 276,144 shares of company stock worth $1,474,306. 35.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clene

A number of institutional investors have recently made changes to their positions in CLNN. PEAK6 LLC purchased a new stake in shares of Clene in the 4th quarter valued at approximately $294,000. State Street Corp boosted its position in shares of Clene by 138.4% during the 4th quarter. State Street Corp now owns 29,801 shares of the company’s stock worth $175,000 after purchasing an additional 17,300 shares during the period. Ensign Peak Advisors Inc increased its holdings in Clene by 668.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 114,361 shares of the company’s stock valued at $671,000 after purchasing an additional 99,481 shares during the last quarter. SymBiosis Capital Partners LLC acquired a new stake in Clene in the 4th quarter valued at approximately $4,523,000. Finally, Geode Capital Management LLC raised its position in Clene by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock valued at $482,000 after purchasing an additional 6,090 shares during the period. 23.28% of the stock is currently owned by institutional investors and hedge funds.

Clene Stock Up 4.0%

NASDAQ CLNN opened at $5.95 on Friday. The business’s fifty day simple moving average is $4.99 and its 200-day simple moving average is $6.72. The firm has a market cap of $64.56 million, a PE ratio of -2.29 and a beta of 0.62. Clene has a 52 week low of $2.28 and a 52 week high of $13.50.

Clene (NASDAQ:CLNN) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.14). The company had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.03 million. Research analysts expect that Clene will post -5.19 EPS for the current year.

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).