Clene (NASDAQ:CLNN) Issues Quarterly Earnings Results

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

Clene Stock Down 16.8%

Clene stock traded down $1.58 during trading hours on Thursday, hitting $7.83. The stock had a trading volume of 104,819 shares, compared to its average volume of 88,452. The business’s 50 day simple moving average is $8.10 and its 200-day simple moving average is $5.29. Clene has a one year low of $2.28 and a one year high of $13.50. The stock has a market cap of $78.85 million, a price-to-earnings ratio of -2.08 and a beta of 0.72.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Clene stock. Jane Street Group LLC bought a new stake in Clene Inc. (NASDAQ:CLNN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,095 shares of the company’s stock, valued at approximately $47,000. Jane Street Group LLC owned about 0.15% of Clene at the end of the most recent reporting period. Institutional investors and hedge funds own 23.28% of the company’s stock.

Analyst Ratings Changes

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

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.