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

Shares of Clene Inc. (NASDAQ:CLNN) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on 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.

CLNN has been the subject of several research reports. HC Wainwright restated a “buy” rating and set a $31.00 price objective on shares of Clene in a research note on Monday, May 4th. Weiss Ratings upgraded shares of Clene from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 11th. D. Boral Capital restated a “buy” rating and set a $23.00 price objective on shares of Clene in a research note on Monday, May 4th. Canaccord Genuity Group restated a “buy” rating and set a $48.00 price objective on shares of Clene in a research note on Friday, March 13th. Finally, Roth Mkm restated a “buy” rating on shares of Clene in a research note on Thursday, May 14th.

Insider Activity

In related news, major shareholder Chidozie Ugwumba sold 73,296 shares of the business’s stock in a transaction 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 completion of the transaction, the insider directly owned 103,417 shares in the company, valued at $641,185.40. The trade was a 41.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 327,677 shares of company stock valued at $2,043,481. Insiders own 28.30% of the company’s stock.

Hedge Funds Weigh In On Clene

Large investors have recently made changes to their positions in the company. Jones Financial Companies Lllp acquired a new position in shares of Clene in the 3rd quarter valued at $29,000. Jane Street Group LLC acquired a new position in shares of Clene in the 2nd quarter valued at $47,000. State Street Corp lifted its stake in shares of Clene by 138.4% in the 4th quarter. State Street Corp now owns 29,801 shares of the company’s stock valued at $175,000 after purchasing an additional 17,300 shares during the period. PEAK6 LLC acquired a new position in shares of Clene in the 4th quarter valued at $294,000. Finally, Lunt Capital Management Inc. lifted its stake 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 valued at $315,000 after purchasing an additional 1,250 shares during the period. 23.28% of the stock is currently owned by institutional investors and hedge funds.

Clene Trading Up 4.7%

Shares of NASDAQ CLNN opened at $6.06 on Monday. Clene has a 12 month low of $3.25 and a 12 month high of $13.50. The company has a 50 day simple moving average of $6.24 and a two-hundred day simple moving average of $5.73. The stock has a market cap of $77.43 million, a price-to-earnings ratio of -1.89 and a beta of 0.91.

Clene (NASDAQ:CLNN) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.05). The business had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.05 million. Analysts forecast that Clene will post -1.58 EPS for the current year.

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).