Clene Inc. (NASDAQ:CLNN) Short Interest Up 45.7% in January

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

Insider Activity

In related news, Director David J. Matlin bought 33,333 shares of Clene stock in a transaction that occurred on Tuesday, January 13th. The stock was acquired at an average price of $6.50 per share, for a total transaction of $216,664.50. Following the completion of the purchase, the director owned 477,824 shares in the company, valued at approximately $3,105,856. This represents a 7.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Chidozie Ugwumba sold 72,748 shares of the business’s stock in a transaction dated 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 owned 521,620 shares in the company, valued at $3,510,502.60. This represents a 12.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 494,910 shares of company stock valued at $3,016,508 in the last three months. 35.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Clene

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp acquired a new position in shares of Clene during the 3rd quarter worth about $29,000. Jane Street Group LLC acquired a new position in Clene during the second quarter valued at approximately $47,000. Lunt Capital Management Inc. increased its stake in Clene by 71.2% in the second quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock valued at $199,000 after purchasing an additional 21,217 shares in the last quarter. Finally, Scoggin Management LP raised its holdings in Clene by 42.8% in the second quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock worth $558,000 after purchasing an additional 42,750 shares during the period. Institutional investors own 23.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. D. Boral Capital reiterated a “buy” rating and issued a $23.00 price objective on shares of Clene in a research note on Friday, January 9th. UBS Group reiterated a “buy” rating on shares of Clene in a research note on Wednesday, December 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Clene in a research note on Friday, January 9th. Finally, Benchmark reaffirmed a “buy” rating on shares of Clene in a report on Thursday, December 4th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Clene presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

Clene Stock Performance

Shares of CLNN opened at $4.09 on Friday. The business’s fifty day moving average price is $6.34 and its two-hundred day moving average price is $6.54. The firm has a market capitalization of $44.38 million, a price-to-earnings ratio of -1.21 and a beta of 0.87. Clene has a 52 week low of $2.28 and a 52 week high of $13.50.

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 analysts’ consensus estimates of ($0.60) by ($0.25). The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.06 million. As a group, research analysts forecast 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).