Clene Inc. (NASDAQ:CLNN) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately bullish: Clene has a consensus “Moderate Buy” rating, with six analysts recommending a buy and one recommending a sell. The average 12-month price target is $33.25.
• Shares opened at $5.16 after declining 2.3%: Clene’s stock remains well below its 52-week high of $13.50, with a market capitalization of approximately $65.9 million.
• Recent financial results fell short of expectations: The company reported a quarterly loss of $0.69 per share versus the $0.64 estimate and revenue of $0.01 million versus the $0.05 million consensus forecast.

Clene Inc. (NASDAQ:CLNN - Get Free Report) has been given a consensus rating of "Moderate Buy" by the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $33.25.

A number of research analysts have recently commented on CLNN shares. Roth Capital restated a "buy" rating on shares of Clene in a research note on Thursday, May 14th. HC Wainwright reaffirmed a "buy" rating and issued a $31.00 price target on shares of Clene in a research note on Monday, May 4th. Weiss Ratings downgraded Clene from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, July 30th. Finally, D. Boral Capital reiterated a "buy" rating and issued a $23.00 price objective on shares of Clene in a report on Monday, May 4th.

Clene Trading Down 2.3%

Shares of NASDAQ CLNN opened at $5.16 on Tuesday. The stock's 50-day moving average is $5.73 and its 200 day moving average is $5.66. The stock has a market cap of $65.94 million, a price-to-earnings ratio of -1.61 and a beta of 0.96. Clene has a 1-year low of $3.50 and a 1-year high of $13.50.

Clene (NASDAQ:CLNN - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.05). The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.05 million. On average, analysts forecast that Clene will post -1.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CLNN. SymBiosis Capital Partners LLC bought a new stake in shares of Clene during the fourth quarter valued at approximately $4,523,000. Scoggin Management LP boosted its holdings in shares of Clene by 75.1% in the third quarter. Scoggin Management LP now owns 250,000 shares of the company's stock valued at $1,506,000 after purchasing an additional 107,250 shares during the period. Ensign Peak Advisors Inc grew its stake 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 purchasing an additional 99,481 shares in the last quarter. PEAK6 LLC bought a new position in Clene in the fourth quarter worth approximately $294,000. Finally, State Street Corp increased its holdings in Clene by 138.4% during the 4th quarter. State Street Corp now owns 29,801 shares of the company's stock worth $175,000 after purchasing an additional 17,300 shares during the period. 23.28% of the stock is currently owned by institutional investors.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source