Clene (NASDAQ:CLNN) Receives Buy Rating from D. Boral Capital

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reissued by equities research analysts at D. Boral Capital in a report released on Thursday,Benzinga reports. They presently have a $23.00 price target on the stock. D. Boral Capital’s price target indicates a potential upside of 288.51% from the stock’s previous close.

Several other research firms have also weighed in on CLNN. Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a research report on Friday, January 9th. Benchmark reissued a “buy” rating on shares of Clene in a research note on Thursday, December 4th. Finally, UBS Group reaffirmed a “buy” rating on shares of Clene in a research report on Wednesday, December 3rd. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.60.

Clene Price Performance

NASDAQ CLNN traded up $0.34 on Thursday, hitting $5.92. 71,669 shares of the company were exchanged, compared to its average volume of 90,014. Clene has a twelve month low of $2.28 and a twelve month high of $13.50. The company’s 50 day moving average price is $4.98 and its 200-day moving average price is $6.70. The firm has a market capitalization of $64.23 million, a P/E ratio of -1.75 and a beta of 0.62.

Insider Activity at Clene

In other Clene news, major shareholder Chidozie Ugwumba sold 32,705 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $5.50, for a total value of $179,877.50. Following the completion of the sale, the insider owned 708,587 shares in the company, valued at approximately $3,897,228.50. This trade represents a 4.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David J. Matlin acquired 33,333 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were purchased at an average cost of $6.50 per share, for a total transaction of $216,664.50. Following the acquisition, the director directly owned 477,824 shares in the company, valued at $3,105,856. This represents a 7.50% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 301,357 shares of company stock valued at $1,638,954. Insiders own 35.30% of the company’s stock.

Hedge Funds Weigh In On Clene

Several hedge funds and other institutional investors have recently modified their holdings of CLNN. Jane Street Group LLC bought a new position in shares of Clene during the second quarter valued at $47,000. Scoggin Management LP lifted its stake in shares of Clene by 42.8% during the second quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock valued at $558,000 after acquiring an additional 42,750 shares during the period. Jones Financial Companies Lllp bought a new position in shares of Clene in the 3rd quarter valued at about $29,000. Lunt Capital Management Inc. boosted its stake in Clene by 2.5% in the third quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock valued at $315,000 after acquiring an additional 1,250 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Clene by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock worth $482,000 after purchasing an additional 6,090 shares during the period. Institutional investors own 23.28% of the company’s stock.

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).