Clene Inc. (NASDAQ:CLNN) Short Interest Update

Clene Inc. (NASDAQ:CLNN) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 752,820 shares, an increase of 45.7% from the December 31st total of 516,750 shares. Currently, 10.7% of the shares of the stock are sold short. Based on an average trading volume of 137,237 shares, the days-to-cover ratio is currently 5.5 days. Based on an average trading volume of 137,237 shares, the days-to-cover ratio is currently 5.5 days. Currently, 10.7% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CLNN. Benchmark reiterated a “buy” rating on shares of Clene in a research report on Thursday, December 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clene in a report on Friday, January 9th. UBS Group reiterated a “buy” rating on shares of Clene in a research report on Wednesday, December 3rd. Finally, D. Boral Capital restated a “buy” rating and set a $23.00 price target on shares of Clene in a research report on Friday, January 9th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.60.

Clene Stock Down 1.2%

NASDAQ:CLNN opened at $4.04 on Tuesday. The firm has a market capitalization of $43.83 million, a P/E ratio of -1.19 and a beta of 0.82. The company has a fifty day moving average of $6.24 and a 200 day moving average of $6.56. Clene has a 52 week low of $2.28 and a 52 week high of $13.50.

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

Insider Activity

In related news, major shareholder Chidozie Ugwumba sold 72,748 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $6.73, for a total value of $489,594.04. Following the transaction, the insider directly owned 521,620 shares in the company, valued at approximately $3,510,502.60. This represents a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David J. Matlin bought 33,333 shares of the company’s stock in a transaction on Tuesday, January 13th. The shares were bought at an average price of $6.50 per share, with a total value of $216,664.50. Following the completion of the transaction, the director owned 477,824 shares of the company’s stock, valued at $3,105,856. The trade was a 7.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 519,680 shares of company stock valued at $3,121,370 in the last three months. 35.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp bought a new stake in shares of Clene during the 3rd quarter valued at about $29,000. Jane Street Group LLC purchased a new stake in Clene in the second quarter worth about $47,000. Lunt Capital Management Inc. lifted its holdings in Clene by 71.2% in the second quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock worth $199,000 after buying an additional 21,217 shares during the period. Finally, Scoggin Management LP boosted its position in Clene by 42.8% during the 2nd quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock valued at $558,000 after acquiring an additional 42,750 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).