Clene Inc. (NASDAQ:CLNN) Receives $32.60 Average Price Target from Analysts

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

A number of equities research analysts recently weighed in on the company. UBS Group reissued a “buy” rating on shares of Clene in a research report on Wednesday, December 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $48.00 price target on shares of Clene in a report on Friday, March 13th. Benchmark reiterated a “buy” rating on shares of Clene in a research report on Thursday, December 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a report on Friday, January 9th. Finally, D. Boral Capital restated a “buy” rating and set a $23.00 price objective on shares of Clene in a research report on Thursday, March 12th.

Clene Price Performance

Shares of Clene stock opened at $6.57 on Friday. The company has a market cap of $71.28 million, a PE ratio of -2.53 and a beta of 0.62. The firm has a fifty day moving average price of $4.99 and a two-hundred day moving average price of $6.72. Clene has a fifty-two week low of $2.28 and a fifty-two week high of $13.50.

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

Insiders Place Their Bets

In other Clene news, major shareholder Chidozie Ugwumba sold 15,284 shares of the business’s stock in a transaction on 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 owned 565,045 shares of the company’s stock, valued at $2,440,994.40. The trade was a 2.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 267,444 shares of company stock worth $1,418,427 in the last 90 days. 35.30% of the stock is owned by insiders.

Institutional Trading of Clene

Several institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp bought a new stake in Clene in the third quarter valued at about $29,000. Jane Street Group LLC bought a new position in Clene during the second quarter worth about $47,000. State Street Corp boosted its holdings in Clene by 138.4% during the fourth quarter. State Street Corp now owns 29,801 shares of the company’s stock valued at $175,000 after purchasing an additional 17,300 shares in the last quarter. PEAK6 LLC bought a new stake in shares of Clene in the 4th quarter valued at approximately $294,000. Finally, Lunt Capital Management Inc. raised its holdings in shares of Clene by 2.5% in the 3rd quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock worth $315,000 after buying an additional 1,250 shares in the last quarter. 23.28% of the stock is currently owned by institutional investors and hedge funds.

About Clene

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).