Clene (NASDAQ:CLNN) Earns “Buy” Rating from D. Boral Capital

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reaffirmed by D. Boral Capital in a research report issued on Friday,Benzinga reports. They presently have a $23.00 price objective on the stock. D. Boral Capital’s price target indicates a potential upside of 285.26% from the company’s current price.

A number of other research analysts also recently commented on the stock. 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 Tuesday, October 14th. Finally, Benchmark reiterated a “buy” rating on shares of Clene in a research note on Thursday, December 4th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Clene presently has an average rating of “Moderate Buy” and an average price target of $32.60.

Clene Stock Performance

NASDAQ:CLNN opened at $5.97 on Friday. The stock has a market cap of $61.67 million, a price-to-earnings ratio of -1.76 and a beta of 0.87. Clene has a one year low of $2.28 and a one year high of $13.50. The business’s 50-day simple moving average is $7.80 and its 200 day simple moving average is $6.39.

Clene (NASDAQ:CLNN) last issued its quarterly earnings data 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 business had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.06 million. On average, equities research analysts predict that Clene will post -5.19 EPS for the current year.

Insider Activity

In other news, major shareholder Chidozie Ugwumba sold 72,748 shares of Clene 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 completion of the transaction, the insider directly owned 521,620 shares of the company’s stock, valued at approximately $3,510,502.60. The trade was a 12.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 321,677 shares of company stock valued at $2,113,866. Company insiders own 35.30% of the company’s stock.

Hedge Funds Weigh In On Clene

A number of large investors have recently bought and sold shares of the business. Scoggin Management LP grew its holdings in shares of Clene by 75.1% during the third quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock valued at $1,506,000 after purchasing an additional 107,250 shares during the last quarter. Lunt Capital Management Inc. lifted 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 purchasing an additional 1,250 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Clene during the 3rd quarter valued at approximately $29,000. Finally, Jane Street Group LLC acquired a new position in Clene during the 2nd quarter valued at approximately $47,000. 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).