Clene (NASDAQ:CLNN) Trading Up 1.9% - What's Next?

Key Points

• Clene shares rose 1.9% on Monday, trading as high as $6.39 on volume slightly above its average session volume.
• Analyst sentiment remains mostly positive, with six Buy ratings and one Sell; the consensus price target is $33.25, far above the current share price.
• The company recently reported a quarterly loss and minimal revenue, missing earnings and sales estimates, while insiders have also sold shares in recent months.

Clene Inc. (NASDAQ:CLNN - Get Free Report)'s stock price shot up 1.9% during trading on Monday . The stock traded as high as $6.39 and last traded at $6.39. 72,478 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 69,915 shares. The stock had previously closed at $6.27.

Analyst Ratings Changes

A number of research firms have recently issued reports on CLNN. D. Boral Capital restated a "buy" rating and set a $23.00 target price on shares of Clene in a research note on Monday, May 4th. Weiss Ratings lowered shares of Clene from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, June 26th. HC Wainwright reissued a "buy" rating and issued a $31.00 price target on shares of Clene in a report on Monday, May 4th. Finally, Roth Capital restated a "buy" rating on shares of Clene in a research report on Thursday, May 14th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.25.

Clene Trading Up 1.9%

The stock's 50-day simple moving average is $6.25 and its 200-day simple moving average is $5.70. The stock has a market cap of $81.66 million, a price-to-earnings ratio of -2.00 and a beta of 0.92.

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

Insiders Place Their Bets

In other Clene news, major shareholder Chidozie Ugwumba sold 73,296 shares of Clene stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $6.20, for a total value of $454,435.20. Following the completion of the transaction, the insider directly owned 103,417 shares of the company's stock, valued at $641,185.40. The trade was a 41.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 298,474 shares of company stock valued at $1,902,330. 28.30% of the stock is owned by insiders.

Institutional Trading of Clene

Several large investors have recently modified their holdings of CLNN. SymBiosis Capital Partners LLC bought a new position in shares of Clene in the fourth quarter worth $4,523,000. Scoggin Management LP lifted its position in Clene by 75.1% during the third quarter. Scoggin Management LP now owns 250,000 shares of the company's stock worth $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% during the fourth quarter. Ensign Peak Advisors Inc now owns 114,361 shares of the company's stock worth $671,000 after buying an additional 99,481 shares in the last quarter. PEAK6 LLC acquired a new stake in Clene during the fourth quarter worth about $294,000. Finally, State Street Corp grew its stake in Clene by 138.4% during the fourth quarter. State Street Corp now owns 29,801 shares of the company's stock worth $175,000 after buying an additional 17,300 shares in the last quarter. 23.28% of the stock is owned by institutional investors and hedge funds.

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).

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.