Clene Inc. (NASDAQ:CLNN – Get Free Report) has been given a consensus rating of “Moderate Buy” by the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $7.50.
CLNN has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $4.00 price target on shares of Clene in a report on Wednesday, August 16th. Benchmark decreased their price target on Clene from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday, June 30th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Clene in a report on Tuesday, August 29th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $10.00 price target on shares of Clene in a report on Tuesday, August 29th.
Get Our Latest Analysis on Clene
Clene Price Performance
CLNN stock opened at $0.72 on Wednesday. The company has a market capitalization of $92.19 million, a P/E ratio of -1.18 and a beta of 0.33. Clene has a twelve month low of $0.63 and a twelve month high of $3.23. The business has a 50 day simple moving average of $0.76 and a 200-day simple moving average of $0.95. The company has a current ratio of 9.31, a quick ratio of 9.30 and a debt-to-equity ratio of 1.20.
Clene (NASDAQ:CLNN – Get Free Report) last posted its quarterly earnings data on Monday, August 14th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.01. The business had revenue of $0.27 million during the quarter, compared to the consensus estimate of $0.13 million. Clene had a negative return on equity of 1,234.32% and a negative net margin of 6,242.73%. As a group, equities analysts anticipate that Clene will post -0.59 EPS for the current year.
Insiders Place Their Bets
In other Clene news, Director John Henry Stevens acquired 316,455 shares of the business’s stock in a transaction on Monday, June 26th. The stock was purchased at an average price of $0.80 per share, for a total transaction of $253,164.00. Following the completion of the transaction, the director now owns 800,204 shares of the company’s stock, valued at approximately $640,163.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director John Henry Stevens purchased 316,455 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was acquired at an average price of $0.80 per share, for a total transaction of $253,164.00. Following the completion of the transaction, the director now directly owns 800,204 shares in the company, valued at approximately $640,163.20. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David J. Matlin purchased 1,500,000 shares of the company’s stock in a transaction dated Friday, June 16th. The stock was purchased at an average price of $0.80 per share, with a total value of $1,200,000.00. Following the transaction, the director now owns 6,793,684 shares of the company’s stock, valued at $5,434,947.20. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 1,841,455 shares of company stock worth $1,473,414. 26.60% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in Clene by 46.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 26,145 shares of the company’s stock worth $66,000 after purchasing an additional 8,262 shares in the last quarter. Geode Capital Management LLC increased its position in Clene by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 230,805 shares of the company’s stock worth $230,000 after purchasing an additional 9,614 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Clene during the 2nd quarter worth about $29,000. UBS Group AG increased its position in Clene by 113.0% during the 2nd quarter. UBS Group AG now owns 22,411 shares of the company’s stock worth $56,000 after purchasing an additional 11,887 shares in the last quarter. Finally, State Street Corp increased its position in Clene by 2.3% during the 1st quarter. State Street Corp now owns 903,885 shares of the company’s stock worth $3,561,000 after purchasing an additional 20,627 shares in the last quarter. Hedge funds and other institutional investors own 3.87% of the company’s stock.
About Clene
Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. Its lead drug is CNM-Au8, which is being studied in various clinical trials, including a Phase 2/3 registrational clinical trial for patients with amyotrophic lateral sclerosis (ALS); completed Phase 2 proof of concept clinical trial in patients with early symptomatic ALS; completed two open-label investigator blinded Phase 2 clinical trials on the brain’s energy metabolites; completed Phase 2 clinical trial for the treatment of visual pathway deficits in chronic optic neuropathy for remyelination in stable relapsing Multiple Sclerosis; and a second Phase 2 clinical trial for the treatment of patients with Parkinson’s Diseases.
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