Clene Inc. (NASDAQ:CLNN) Receives $33.25 Consensus Target Price from Analysts

Clene Inc. (NASDAQ:CLNN) has been assigned an average rating of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat 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 price target among brokers that have updated their coverage on the stock in the last year is $33.25.

Several brokerages recently weighed in on CLNN. Weiss Ratings cut Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 26th. Canaccord Genuity Group reissued a “buy” rating and issued a $48.00 target price on shares of Clene in a research note on Friday, March 13th. Roth Mkm reissued a “buy” rating on shares of Clene in a research note on Thursday, May 14th. HC Wainwright reissued a “buy” rating and issued a $31.00 target price on shares of Clene in a research note on Monday, May 4th. Finally, D. Boral Capital reissued a “buy” rating and issued a $23.00 target price on shares of Clene in a research note on Monday, May 4th.

Insider Activity at Clene

In other news, major shareholder Chidozie Ugwumba sold 73,296 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $6.20, for a total value of $454,435.20. Following the sale, the insider directly owned 103,417 shares of the company’s stock, valued at approximately $641,185.40. This represents a 41.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 327,677 shares of company stock valued at $2,043,481 over the last 90 days. Corporate insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp bought a new position in shares of Clene during the third quarter valued at $29,000. Jane Street Group LLC bought a new position in Clene in the second quarter valued at about $47,000. State Street Corp lifted its holdings in Clene by 138.4% in the fourth quarter. State Street Corp now owns 29,801 shares of the company’s stock valued at $175,000 after acquiring an additional 17,300 shares during the period. PEAK6 LLC bought a new position in Clene in the fourth quarter valued at about $294,000. Finally, Lunt Capital Management Inc. lifted its holdings in Clene by 2.5% in the third quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock valued at $315,000 after acquiring an additional 1,250 shares during the period. 23.28% of the stock is owned by institutional investors.

Clene Stock Down 6.9%

Shares of Clene stock opened at $6.11 on Thursday. The company has a market cap of $78.09 million, a PE ratio of -1.91 and a beta of 0.91. The business has a 50 day moving average of $6.20 and a 200 day moving average of $6.09. Clene has a 52 week low of $3.15 and a 52 week high of $13.50.

Clene (NASDAQ:CLNN) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.05). The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.05 million. On average, research analysts anticipate that Clene will post -1.58 earnings per share 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).