Clene (NASDAQ:CLNN) Issues Quarterly Earnings Results

Clene (NASDAQ:CLNN) posted its quarterly earnings results on Friday. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.71), FiscalAI reports. The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.06 million.

Clene Price Performance

CLNN stock traded down $0.05 during midday trading on Friday, reaching $4.14. 58,954 shares of the company’s stock traded hands, compared to its average volume of 252,360. The company has a market capitalization of $52.91 million, a P/E ratio of -1.29 and a beta of 0.96. Clene has a fifty-two week low of $3.53 and a fifty-two week high of $13.50. The business has a 50-day moving average price of $5.63 and a two-hundred day moving average price of $5.64.

Hedge Funds Weigh In On Clene

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in shares of Clene during the 2nd quarter valued at approximately $47,000. State Street Corp boosted its stake in Clene by 138.4% during the 4th quarter. State Street Corp now owns 29,801 shares of the company’s stock valued at $175,000 after acquiring an additional 17,300 shares during the last quarter. PEAK6 LLC bought a new position in shares of Clene during the fourth quarter worth about $294,000. Geode Capital Management LLC lifted its stake in 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 last quarter. Finally, Ensign Peak Advisors Inc lifted its holdings in Clene by 668.6% in the fourth quarter. Ensign Peak Advisors Inc now owns 114,361 shares of the company’s stock worth $671,000 after acquiring an additional 99,481 shares during the last quarter. 23.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on CLNN. Roth Capital reissued a “buy” rating on shares of Clene in a research report on Thursday, May 14th. Weiss Ratings downgraded shares of Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, July 30th. D. Boral Capital reiterated a “buy” rating and issued a $23.00 price target on shares of Clene in a report on Monday, May 4th. Finally, HC Wainwright reissued a “buy” rating and set a $31.00 price objective on shares of Clene in a research note on Monday, May 4th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.25.

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).