Clene Inc. (NASDAQ:CLNN) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Clene Inc. (NASDAQ:CLNN) has received a consensus rating of "Moderate Buy" from six analysts, with one analyst rating it a sell and five giving buy ratings.
• The stock is currently priced at $8.59, significantly lower than the average 1-year price target of $32.60 set by analysts.
• Clene reported earnings of ($0.78) EPS, missing the consensus estimate of ($0.49), highlighting ongoing financial challenges for the company.

Shares of Clene Inc. (NASDAQ:CLNN - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $32.60.

Several analysts recently weighed in on CLNN shares. Wall Street Zen lowered Clene from a "hold" rating to a "strong sell" rating in a report on Saturday, August 16th. 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. Canaccord Genuity Group reduced their target price on shares of Clene from $83.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Weiss Ratings reissued a "sell (d-)" rating on shares of Clene in a research report on Tuesday. Finally, Benchmark reduced their price objective on shares of Clene from $33.00 to $31.00 and set a "buy" rating on the stock in a research report on Wednesday, September 10th.

Clene Trading Up 4.1%

Shares of NASDAQ CLNN opened at $8.59 on Wednesday. The firm's 50-day moving average price is $6.11 and its 200-day moving average price is $4.33. The stock has a market capitalization of $86.50 million, a price-to-earnings ratio of -2.28 and a beta of 0.62. Clene has a 12-month low of $2.28 and a 12-month high of $11.06.

Clene (NASDAQ:CLNN - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.29). The firm had revenue of $0.03 million for the quarter, compared to analysts' expectations of $0.06 million. On average, equities analysts predict that Clene will post -5.19 EPS for the current fiscal year.

Institutional Trading of Clene

Hedge funds and other institutional investors have recently bought and sold shares of the business. Penn Davis Mcfarland Inc. purchased a new position in Clene in the 1st quarter worth about $34,000. Jane Street Group LLC purchased a new position in shares of Clene during the second quarter worth approximately $47,000. Lunt Capital Management Inc. increased its position in shares of Clene by 71.2% during the second 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 increased its position in shares of Clene by 42.8% during the second quarter. Scoggin Management LP now owns 142,750 shares of the company's stock worth $558,000 after acquiring an additional 42,750 shares during the period. Hedge funds and other institutional investors own 23.28% of the company's stock.

About Clene

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.

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