Clene (NASDAQ:CLNN) Releases Earnings Results, Misses Expectations By $0.25 EPS

Clene (NASDAQ:CLNN) posted its quarterly earnings data on Thursday. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.25), FiscalAI reports. The company had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.06 million.

Clene Stock Up 16.7%

Shares of Clene stock opened at $8.52 on Friday. The firm has a market cap of $85.80 million, a PE ratio of -2.51 and a beta of 0.72. Clene has a twelve month low of $2.28 and a twelve month high of $13.50. The business has a 50-day moving average price of $8.17 and a 200 day moving average price of $5.34.

Analyst Ratings Changes

Several research analysts recently issued reports on CLNN shares. Benchmark reduced their target price on Clene from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, September 10th. Canaccord Genuity Group decreased their price objective on shares of Clene from $83.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, August 18th. D. Boral Capital restated a “buy” rating and set a $23.00 price target on shares of Clene in a research note on Thursday, September 25th. Wall Street Zen downgraded shares of Clene from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a research report on Tuesday, October 14th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.60.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Clene stock. Jane Street Group LLC purchased a new stake in Clene Inc. (NASDAQ:CLNN) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 12,095 shares of the company’s stock, valued at approximately $47,000. Jane Street Group LLC owned 0.15% of Clene as of its most recent filing with the SEC. Institutional investors own 23.28% of the company’s stock.

Clene Company Profile

Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. Its lead drug candidate is CNM-Au8, which is being studied in various clinical trials, including a completed Phase 2 platform trial to evaluate the safety and efficacy of CNM-Au8 in patients with amyotrophic lateral sclerosis (ALS); completed Phase 2 proof of concept clinical trial in patients with early symptomatic ALS; completed two open-label investigator blinded Phase 2 clinical trials on the brain's energy metabolites; completed Phase 2 clinical trial for the treatment of visual pathway deficits in chronic optic neuropathy for remyelination in stable relapsing Multiple Sclerosis; and a second Phase 2 clinical trial for the treatment of patients with Parkinson's Diseases.