Clene Inc. (NASDAQ:CLNN) Short Interest Up 47.4% in December

Clene Inc. (NASDAQ:CLNN) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totaling 576,736 shares, an increase of 47.4% from the November 30th total of 391,393 shares. Based on an average trading volume of 494,060 shares, the days-to-cover ratio is presently 1.2 days. Currently, 8.6% of the company’s stock are sold short. Currently, 8.6% of the company’s stock are sold short. Based on an average trading volume of 494,060 shares, the days-to-cover ratio is presently 1.2 days.

Insider Activity at Clene

In other Clene news, major shareholder Chidozie Ugwumba sold 72,748 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $6.73, for a total transaction of $489,594.04. Following the completion of the sale, the insider owned 521,620 shares in the company, valued at $3,510,502.60. This trade represents a 12.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 267,744 shares of company stock valued at $1,790,299 in the last 90 days. Insiders own 35.30% of the company’s stock.

Institutional Investors Weigh In On Clene

A number of hedge funds have recently made changes to their positions in CLNN. Jones Financial Companies Lllp bought a new position in Clene in the 3rd quarter worth approximately $29,000. Jane Street Group LLC bought a new position in shares of Clene in the second quarter worth $47,000. Lunt Capital Management Inc. increased its holdings in shares of Clene by 71.2% during the second quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock valued at $199,000 after purchasing an additional 21,217 shares during the period. Finally, Scoggin Management LP raised its stake in shares of Clene by 42.8% during the second quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock valued at $558,000 after purchasing an additional 42,750 shares in the last quarter. Institutional investors own 23.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Benchmark restated a “buy” rating on shares of Clene in a research note on Thursday, December 4th. UBS Group reiterated a “buy” rating on shares of Clene in a research report on Wednesday, December 3rd. D. Boral Capital reissued a “buy” rating and set a $23.00 price target on shares of Clene in a research report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clene in a report on Tuesday, October 14th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.60.

Clene Price Performance

Shares of NASDAQ CLNN opened at $5.89 on Tuesday. The firm has a market capitalization of $60.84 million, a PE ratio of -1.74 and a beta of 0.79. Clene has a 1-year low of $2.28 and a 1-year high of $13.50. The business’s fifty day moving average price is $8.25 and its two-hundred day moving average price is $6.33.

Clene (NASDAQ:CLNN) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.25). The firm had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.06 million. Equities research analysts expect that Clene will post -5.19 earnings per share for the current fiscal year.

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).