Clene (NASDAQ:CLNN) Shares Up 1.9% – Time to Buy?

Clene Inc. (NASDAQ:CLNN)’s share price traded up 1.9% on Monday . The company traded as high as $6.39 and last traded at $6.39. Approximately 72,478 shares were traded during trading, an increase of 4% from the average session volume of 69,915 shares. The stock had previously closed at $6.27.

Wall Street Analysts Forecast Growth

CLNN has been the topic of a number of recent analyst reports. D. Boral Capital reissued a “buy” rating and issued a $23.00 price objective on shares of Clene in a research note on Monday, May 4th. HC Wainwright restated a “buy” rating and set a $31.00 target price on shares of Clene in a research note on Monday, May 4th. Weiss Ratings downgraded Clene from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 26th. Finally, Roth Capital reiterated a “buy” rating on shares of Clene in a research note on Thursday, May 14th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.25.

Clene Price Performance

The business’s fifty day moving average price is $6.25 and its 200 day moving average price is $5.70. The stock has a market cap of $81.66 million, a P/E ratio of -2.00 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. On average, analysts predict that Clene Inc. will post -1.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Clene news, major shareholder Chidozie Ugwumba sold 73,296 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $6.20, for a total value 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 sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 298,474 shares of company stock valued at $1,902,330. 28.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in shares of Clene in the 2nd quarter valued at $47,000. Scoggin Management LP grew its position in Clene by 42.7% during the 2nd quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock worth $558,000 after acquiring an additional 42,750 shares during the last quarter. Geode Capital Management LLC grew its position in Clene by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock worth $482,000 after acquiring an additional 6,090 shares during the last quarter. SymBiosis Capital Partners LLC bought a new stake in Clene during the 4th quarter worth $4,523,000. Finally, Ensign Peak Advisors Inc increased its holdings in Clene by 668.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 114,361 shares of the company’s stock worth $671,000 after purchasing an additional 99,481 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).