Clene Inc. (NASDAQ:CLNN) Receives $33.25 Average PT from Brokerages

Shares of Clene Inc. (NASDAQ:CLNN) have earned an average rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $33.25.

A number of analysts have weighed in on the stock. Roth Capital restated a “buy” rating on shares of Clene in a research report on Thursday, May 14th. Weiss Ratings upgraded shares of Clene from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. D. Boral Capital reissued a “buy” rating and set a $23.00 price objective on shares of Clene in a report on Monday, May 4th. Finally, HC Wainwright reissued a “buy” rating and set a $31.00 price objective on shares of Clene in a report on Monday, May 4th.

Clene Stock Performance

CLNN stock opened at $5.92 on Friday. The firm has a 50-day moving average price of $6.16 and a 200-day moving average price of $5.69. Clene has a 12 month low of $3.25 and a 12 month high of $13.50. The stock has a market capitalization of $75.66 million, a P/E ratio of -1.85 and a beta of 0.92.

Clene (NASDAQ:CLNN) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.05). The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.05 million. As a group, equities analysts predict that Clene will post -1.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Chidozie Ugwumba sold 73,296 shares of Clene stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $6.20, for a total transaction of $454,435.20. Following the sale, the insider directly owned 103,417 shares of the company’s stock, valued at approximately $641,185.40. This trade represents a 41.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 254,994 shares of company stock valued at $1,624,006 in the last ninety days. 28.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC bought a new position in Clene in the 2nd quarter valued at approximately $47,000. State Street Corp grew its holdings in 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 acquiring an additional 17,300 shares during the last quarter. PEAK6 LLC bought a new stake in Clene during the 4th quarter worth approximately $294,000. Geode Capital Management LLC increased its position in Clene by 8.0% in the 4th 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 during the period. Finally, Ensign Peak Advisors Inc increased its position 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 acquiring an additional 99,481 shares during the period. Institutional investors and hedge funds own 23.28% of the company’s stock.

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).