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

Key Points

• Clene has a “Moderate Buy” consensus rating from seven brokerages, with six buy ratings and one sell rating; the average 12-month price target is $34.00.
• PEAK6 LLC recently acquired 50,012 shares worth approximately $294,000, while institutional investors collectively own 23.28% of Clene’s stock.
• Clene reported a quarterly loss of $1.08 per share, missing the $0.37-per-share consensus estimate, despite revenue of $0.09 million exceeding expectations.

Clene Inc. (NASDAQ:CLNN - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $34.00.

A number of equities research analysts have recently commented on the company. HC Wainwright restated a "buy" rating on shares of Clene in a report on Monday, August 17th. Weiss Ratings cut shares of Clene from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday.

Institutional Trading of Clene

An institutional investor recently bought a new stake in Clene stock. PEAK6 LLC bought a new position in Clene Inc. (NASDAQ:CLNN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 50,012 shares of the company's stock, valued at approximately $294,000. PEAK6 LLC owned 0.46% of Clene as of its most recent filing with the SEC. Hedge funds and other institutional investors own 23.28% of the company's stock.

Clene Stock Up 1.0%

Shares of CLNN opened at $4.10 on Wednesday. The stock has a market cap of $53.26 million, a P/E ratio of -1.17 and a beta of 0.95. The business's 50 day moving average price is $4.44 and its 200-day moving average price is $5.50. Clene has a 52 week low of $3.25 and a 52 week high of $13.50.

Clene (NASDAQ:CLNN - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported ($1.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.71). The company had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.06 million. On average, equities analysts anticipate that Clene will post -1.7 EPS for the current year.

Clene Company Profile

Clene Inc NASDAQ: CLNN is a clinical-stage biopharmaceutical company focused on developing nanotherapeutics for neurodegenerative diseases. The company's platform uses nanocrystals designed to influence cellular energy production and protect or restore the function of nerve cells.

Clene's leading investigational product is CNM-Au8, an orally administered suspension containing catalytically active gold nanocrystals. The therapy is being evaluated in clinical studies for conditions including amyotrophic lateral sclerosis (ALS), multiple sclerosis and Parkinson's disease.

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