Analysts Set Clene Inc. (NASDAQ:CLNN) PT at $32.60

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.com reports. One analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $32.60.

A number of analysts have weighed in on CLNN shares. UBS Group reaffirmed a “buy” rating on shares of Clene in a research note on Wednesday, December 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Clene in a research report on Friday, January 9th. D. Boral Capital reiterated a “buy” rating and issued a $23.00 target price on shares of Clene in a research report on Friday, January 9th. Finally, Benchmark reissued a “buy” rating on shares of Clene in a research note on Thursday, December 4th.

Insider Transactions at Clene

In other news, major shareholder Chidozie Ugwumba sold 8,717 shares of the stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $4.91, for a total value of $42,800.47. Following the completion of the sale, the insider owned 580,329 shares of the company’s stock, valued at approximately $2,849,415.39. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David J. Matlin acquired 33,333 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The stock was bought at an average cost of $6.50 per share, for a total transaction of $216,664.50. Following the completion of the purchase, the director owned 477,824 shares of the company’s stock, valued at $3,105,856. This trade represents a 7.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 494,910 shares of company stock worth $3,016,508 in the last quarter. Corporate insiders own 35.30% of the company’s stock.

Institutional Investors Weigh In On Clene

Institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp acquired a new stake in shares of Clene during the third quarter worth $29,000. Jane Street Group LLC acquired a new stake in Clene during the 2nd quarter worth about $47,000. Lunt Capital Management Inc. grew its holdings in Clene by 71.2% during the 2nd quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock worth $199,000 after acquiring an additional 21,217 shares during the period. Finally, Scoggin Management LP raised its position in shares of Clene by 42.8% in the 2nd quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock worth $558,000 after acquiring an additional 42,750 shares in the last quarter. 23.28% of the stock is owned by institutional investors.

Clene Trading Down 15.1%

Shares of NASDAQ CLNN opened at $4.17 on Friday. The company has a market cap of $45.24 million, a price-to-earnings ratio of -1.23 and a beta of 0.87. Clene has a 12 month low of $2.28 and a 12 month high of $13.50. The stock has a 50-day moving average price of $6.45 and a two-hundred day moving average price of $6.52.

Clene (NASDAQ:CLNN) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.25). The company had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.06 million. On average, sell-side analysts predict that Clene will post -5.19 earnings per share for the current year.

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).