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.
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.
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.
Receive News & Ratings for Clene Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Clene and related companies with MarketBeat.com’s FREE daily email newsletter.
We are sorry that this article was not useful for you!
Let us improve this article!
Tell us how we can improve this article?