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

Shares of Clene Inc. (NASDAQ:CLNN) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $33.25.

A number of research firms have recently weighed in on CLNN. HC Wainwright reissued a “buy” rating and set a $31.00 target price on shares of Clene in a research report on Monday, May 4th. Canaccord Genuity Group reissued a “buy” rating and set a $48.00 target price on shares of Clene in a research report on Friday, March 13th. Roth Mkm reissued a “buy” rating on shares of Clene in a research report on Thursday, May 14th. D. Boral Capital reissued a “buy” rating and set a $23.00 target price on shares of Clene in a research report on Monday, May 4th. Finally, Weiss Ratings downgraded shares of Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday.

Clene Stock Performance

NASDAQ:CLNN opened at $6.06 on Monday. The firm has a market cap of $77.45 million, a price-to-earnings ratio of -1.89 and a beta of 0.91. Clene has a 52 week low of $3.25 and a 52 week high of $13.50. The firm has a 50-day moving average price of $6.24 and a two-hundred day moving average price of $5.72.

Clene (NASDAQ:CLNN) last posted 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 analysts’ expectations of $0.05 million. As a group, sell-side analysts forecast that Clene will post -1.58 earnings per share for the current year.

Insider Buying and Selling at Clene

In other news, major shareholder Chidozie Ugwumba sold 73,296 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $6.20, for a total transaction of $454,435.20. Following the completion of the transaction, the insider directly owned 103,417 shares of the company’s stock, valued at $641,185.40. This represents a 41.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 327,677 shares of company stock worth $2,043,481. 28.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CLNN. Jones Financial Companies Lllp bought a new position in shares of Clene during the 3rd quarter valued at approximately $29,000. Jane Street Group LLC bought a new position in Clene in the 2nd quarter worth approximately $47,000. State Street Corp boosted its holdings in Clene by 138.4% in the 4th quarter. State Street Corp now owns 29,801 shares of the company’s stock worth $175,000 after buying an additional 17,300 shares during the period. PEAK6 LLC bought a new position in Clene in the 4th quarter worth approximately $294,000. Finally, 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 period. 23.28% of the stock is owned by 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).