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

Key Points

• Analyst sentiment is moderately bullish: Six of seven analysts rate Clene a buy and one rates it a sell, with a consensus 12-month price target of $33.25.
• Shares remain under pressure: CLNN opened at $3.85, near its one-year low of $3.72 and below its 50-day and 200-day moving averages. The company also reported a quarterly loss of $1.08 per share, missing the $0.37 consensus estimate.
• Institutional interest has increased: Several investors recently expanded or initiated positions, while hedge funds and other institutions collectively own 23.28% of Clene’s stock.

Shares of Clene Inc. (NASDAQ:CLNN - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One equities 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 brokers that have updated their coverage on the stock in the last year is $33.25.

A number of equities analysts have weighed in on the company. HC Wainwright reiterated a "buy" rating on shares of Clene in a research note on Monday, August 17th. Weiss Ratings cut shares of Clene from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, August 27th. Finally, Roth Capital reiterated a "buy" rating on shares of Clene in a research report on Thursday, May 14th.

Clene Stock Performance

Shares of CLNN opened at $3.85 on Friday. The stock has a 50-day moving average of $5.15 and a two-hundred day moving average of $5.62. The stock has a market cap of $49.47 million, a P/E ratio of -1.10 and a beta of 0.95. Clene has a one year low of $3.72 and a one year high of $13.50.

Clene (NASDAQ:CLNN - Get Free Report) last issued its earnings results on Friday, August 14th. The company reported ($1.08) EPS 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 analysts' expectations of $0.06 million. Analysts predict that Clene will post -1.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Clene

Several large investors have recently bought and sold shares of CLNN. SymBiosis Capital Partners LLC purchased a new position in Clene in the 4th quarter valued at $4,523,000. Scoggin Management LP grew its holdings in shares of 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 buying an additional 107,250 shares in the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of 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 shares of Clene in the fourth quarter valued at about $294,000. Finally, State Street Corp raised its position in shares of Clene by 138.4% in the fourth quarter. State Street Corp now owns 29,801 shares of the company's stock valued at $175,000 after buying an additional 17,300 shares during the last quarter. 23.28% of the stock is currently owned by hedge funds and other institutional investors.

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).

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