Clene Inc. (NASDAQ:CLNN) Receives $33.00 Consensus Target Price from Analysts

Shares of Clene Inc. (NASDAQ:CLNN) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $33.00.

CLNN has been the topic of a number of recent analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $48.00 price target on shares of Clene in a report on Friday, March 13th. D. Boral Capital restated a “buy” rating and set a $23.00 target price on shares of Clene in a research note on Thursday, March 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a report on Friday, January 9th.

Clene Price Performance

NASDAQ:CLNN opened at $6.11 on Wednesday. The firm’s 50-day moving average price is $5.13 and its 200-day moving average price is $6.64. The company has a market capitalization of $71.98 million, a PE ratio of -2.35 and a beta of 0.62. Clene has a 1-year low of $2.28 and a 1-year high of $13.50.

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

Insider Buying and Selling at Clene

In other Clene news, Director David J. Matlin bought 33,333 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The stock was acquired at an average cost of $6.50 per share, for a total transaction of $216,664.50. Following the completion of the transaction, the director owned 477,824 shares in the company, valued at $3,105,856. This trade represents a 7.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Chidozie Ugwumba sold 32,705 shares of Clene stock in a transaction on Monday, January 12th. The stock was sold at an average price of $5.50, for a total value of $179,877.50. Following the sale, the insider owned 708,587 shares of the company’s stock, valued at approximately $3,897,228.50. This trade represents a 4.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 220,495 shares of company stock valued at $1,095,089 over the last ninety days. 35.30% of the stock is owned by insiders.

Institutional Trading of Clene

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