Clene (NASDAQ:CLNN) Trading 1.3% Higher – Here’s Why

Clene Inc. (NASDAQ:CLNN)’s share price rose 1.3% on Thursday . The stock traded as high as $6.07 and last traded at $6.01. Approximately 66,246 shares changed hands during trading, a decline of 36% from the average daily volume of 102,774 shares. The stock had previously closed at $5.93.

Wall Street Analyst Weigh In

CLNN has been the subject of several research analyst reports. Roth Mkm restated a “buy” rating on shares of Clene in a research note on Thursday, May 14th. HC Wainwright reiterated a “buy” rating and issued a $31.00 target price on shares of Clene in a research report on Monday, May 4th. Weiss Ratings upgraded shares of Clene from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. Canaccord Genuity Group reissued a “buy” rating and set a $48.00 price target on shares of Clene in a research report on Friday, March 13th. Finally, D. Boral Capital reissued a “buy” rating and set a $23.00 price target on shares of Clene in a research report on Monday, May 4th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.25.

Clene Price Performance

The company has a market capitalization of $76.81 million, a PE ratio of -1.88 and a beta of 0.91. The firm’s fifty day simple moving average is $6.30 and its 200 day simple moving average is $5.79.

Clene (NASDAQ:CLNN) last announced 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 business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.05 million. On average, equities research analysts anticipate that Clene Inc. will post -1.58 EPS for the current fiscal year.

Insider Activity at Clene

In other Clene news, major shareholder Chidozie Ugwumba sold 73,296 shares of the company’s stock in a transaction that occurred 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 owned 103,417 shares in the company, valued at approximately $641,185.40. This represents a 41.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 327,677 shares of company stock valued at $2,043,481 in the last quarter. 28.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CLNN. Lunt Capital Management Inc. boosted its holdings in 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 buying an additional 1,250 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Clene during the third quarter valued at approximately $29,000. Geode Capital Management LLC lifted its position in shares of Clene by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock valued at $482,000 after acquiring an additional 6,090 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Clene in the second quarter valued at approximately $47,000. Finally, State Street Corp boosted its stake 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 acquiring an additional 17,300 shares during the last quarter. 23.28% of the stock is owned by hedge funds and other institutional investors.

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).