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

Clene Inc. (NASDAQ:CLNN) has been given an average rating of “Moderate Buy” by the five research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $34.00.

A number of brokerages recently commented on CLNN. D. Boral Capital reaffirmed a “buy” rating and set a $23.00 price target on shares of Clene in a research report on Thursday, March 12th. Weiss Ratings downgraded Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 22nd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $48.00 price target on shares of Clene in a research report on Friday, March 13th.

Insider Activity at Clene

In related news, major shareholder Chidozie Ugwumba sold 5,736 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $6.08, for a total transaction of $34,874.88. Following the completion of the sale, the insider directly owned 277,569 shares of the company’s stock, valued at approximately $1,687,619.52. This trade represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 162,884 shares of company stock worth $947,056 over the last three months. Company insiders own 28.30% of the company’s stock.

Institutional Trading of Clene

Large investors have recently bought and sold shares of the company. SymBiosis Capital Partners LLC purchased a new stake in Clene in the fourth quarter worth $4,523,000. Scoggin Management LP increased its position in Clene by 75.1% in the third quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock worth $1,506,000 after buying an additional 107,250 shares during the last quarter. Ensign Peak Advisors Inc increased its position in Clene by 668.6% in the fourth quarter. Ensign Peak Advisors Inc now owns 114,361 shares of the company’s stock worth $671,000 after buying an additional 99,481 shares during the last quarter. Geode Capital Management LLC increased its position in Clene by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock worth $482,000 after buying an additional 6,090 shares during the last quarter. Finally, PEAK6 LLC purchased a new stake in Clene in the fourth quarter worth $294,000. 23.28% of the stock is owned by hedge funds and other institutional investors.

Clene Trading Down 0.3%

Shares of CLNN opened at $6.14 on Friday. The company has a market capitalization of $72.33 million, a price-to-earnings ratio of -2.36 and a beta of 0.89. The stock has a 50 day moving average of $5.68 and a 200 day moving average of $6.48. Clene has a 12 month low of $2.28 and a 12 month high of $13.50.

Clene (NASDAQ:CLNN) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.14). The company had revenue of $0.08 million during the quarter, compared to the consensus estimate of $0.03 million. As a group, equities research analysts predict that Clene will post -1.99 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).