Clene's (CLNN) "Buy" Rating Reiterated at HC Wainwright

Key Points

• HC Wainwright reiterated a Buy rating on Clene with a $31 price target, implying roughly a 362.62% upside from the current share price.
• Shares jumped 9.1% to $6.70 on heavy volume (17.68M vs. average 297K); the company has a market cap of about $79M, negative earnings (P/E -2.58) and analysts forecast -1.99 EPS for the year.
• Insiders have been selling recently: a major shareholder sold 61,345 shares (reducing their stake by 17.12%), with 159,084 shares sold by insiders in the last three months, though insiders still own 28.30% of the stock.

Clene (NASDAQ:CLNN - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $31.00 price target on the stock. HC Wainwright's price target indicates a potential upside of 362.62% from the stock's current price.

CLNN has been the subject of a number of other reports. Canaccord Genuity Group restated a "buy" rating and set a $48.00 target price on shares of Clene in a research report on Friday, March 13th. D. Boral Capital restated a "buy" rating and set a $23.00 target price on shares of Clene in a research report on Monday. Finally, Weiss Ratings downgraded shares of Clene from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, April 22nd. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Clene presently has an average rating of "Moderate Buy" and a consensus target price of $33.25.

Clene Stock Up 9.1%

Shares of CLNN traded up $0.56 during trading hours on Monday, reaching $6.70. 17,682,319 shares of the company traded hands, compared to its average volume of 297,422. The stock has a market capitalization of $78.94 million, a P/E ratio of -2.58 and a beta of 0.89. Clene has a 12-month low of $2.28 and a 12-month high of $13.50. The business has a fifty day moving average price of $5.68 and a 200-day moving average price of $6.47.

Clene (NASDAQ:CLNN - Get Free Report) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.88) earnings per share for the quarter, missing analysts' consensus estimates of ($0.74) by ($0.14). The firm had revenue of $0.08 million for the quarter, compared to analysts' expectations of $0.03 million. As a group, research analysts predict that Clene will post -1.99 EPS for the current fiscal year.

Insider Buying and Selling at Clene

In other Clene news, major shareholder Chidozie Ugwumba sold 61,345 shares of the company's stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $6.14, for a total value of $376,658.30. Following the completion of the transaction, the insider owned 297,066 shares in the company, valued at approximately $1,823,985.24. This represents a 17.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 159,084 shares of company stock valued at $931,704 in the last three months. Corporate insiders own 28.30% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CLNN. Jane Street Group LLC acquired a new position in shares of Clene in the second quarter worth about $47,000. Scoggin Management LP raised its position in shares of Clene by 42.8% in 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. Jones Financial Companies Lllp acquired a new position in shares of Clene in the third quarter worth about $29,000. Lunt Capital Management Inc. raised its position in shares of Clene by 2.5% in the third quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company's stock worth $315,000 after acquiring an additional 1,250 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Clene by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 82,079 shares of the company's stock worth $482,000 after acquiring an additional 6,090 shares during the period. Institutional investors and hedge funds own 23.28% of the company's stock.

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).

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