Clene Inc. (NASDAQ:CLNN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Clene Inc. (NASDAQ:CLNN) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $33.25.

A number of research firms have recently commented on CLNN. Roth Mkm reaffirmed a “buy” rating on shares of Clene in a report on Thursday, May 14th. HC Wainwright reaffirmed a “buy” rating and issued a $31.00 price target on shares of Clene in a report on Monday, May 4th. Canaccord Genuity Group reissued a “buy” rating and set a $48.00 price objective on shares of Clene in a research note on Friday, March 13th. D. Boral Capital reissued a “buy” rating and set a $23.00 price objective on shares of Clene in a research note on Monday, May 4th. Finally, Weiss Ratings raised Clene from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 11th.

Clene Price Performance

Clene stock opened at $6.01 on Monday. Clene has a one year low of $3.25 and a one year high of $13.50. The business has a fifty day moving average price of $6.30 and a 200-day moving average price of $5.76. The firm has a market capitalization of $76.81 million, a P/E ratio of -1.88 and a beta of 0.91.

Clene (NASDAQ:CLNN) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.05). The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.05 million. Sell-side analysts expect that Clene will post -1.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Clene news, major shareholder Chidozie Ugwumba sold 73,296 shares of the firm’s 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 owned 103,417 shares in the company, valued at $641,185.40. This trade represents a 41.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 327,677 shares of company stock worth $2,043,481 in the last quarter. Company insiders own 28.30% of the company’s stock.

Institutional Investors Weigh In On Clene

A number of large investors have recently added to or reduced their stakes in CLNN. Jones Financial Companies Lllp purchased a new stake in Clene during the third quarter valued at about $29,000. Jane Street Group LLC purchased a new position in shares of Clene in the second quarter worth about $47,000. State Street Corp increased its holdings in shares of 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 buying an additional 17,300 shares during the period. PEAK6 LLC purchased a new position in shares of Clene in the fourth quarter worth about $294,000. Finally, Lunt Capital Management Inc. increased its holdings in shares of Clene by 2.5% in the third 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 during the period. Hedge funds and other institutional investors own 23.28% of the company’s stock.

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).