Clene (NASDAQ:CLNN) Shares Up 1.3% – Should You Buy?

Clene Inc. (NASDAQ:CLNN)’s share price was up 1.3% during trading on Thursday . The stock traded as high as $6.07 and last traded at $6.01. Approximately 66,246 shares traded hands during trading, a decline of 36% from the average session volume of 102,774 shares. The stock had previously closed at $5.93.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CLNN shares. Canaccord Genuity Group reissued a “buy” rating and set a $48.00 price objective on shares of Clene in a report on Friday, March 13th. HC Wainwright restated a “buy” rating and issued a $31.00 price objective on shares of Clene in a report on Monday, May 4th. Roth Mkm reaffirmed a “buy” rating on shares of Clene in a research note on Thursday, May 14th. D. Boral Capital reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Clene in a research note on Monday, May 4th. Finally, Weiss Ratings raised Clene from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 11th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Clene presently has an average rating of “Moderate Buy” and a consensus target price of $33.25.

Clene Price Performance

The firm has a market cap of $76.81 million, a P/E ratio of -1.88 and a beta of 0.91. The firm’s fifty day moving average is $6.30 and its two-hundred day moving average is $5.79.

Clene (NASDAQ:CLNN) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.05). The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.05 million. As a group, sell-side analysts forecast that Clene Inc. will post -1.58 EPS for the current year.

Insider Activity

In related news, major shareholder Chidozie Ugwumba sold 73,296 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $6.20, for a total transaction of $454,435.20. Following the transaction, the insider owned 103,417 shares in the company, valued at $641,185.40. The trade was a 41.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 327,677 shares of company stock worth $2,043,481 in the last 90 days. 28.30% of the stock is owned by insiders.

Institutional Trading of Clene

Several large investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in shares of Clene during the 2nd quarter worth approximately $47,000. Scoggin Management LP raised its position in shares of Clene by 42.7% in the 2nd quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock worth $558,000 after acquiring an additional 42,750 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Clene in the 3rd quarter valued at approximately $29,000. Lunt Capital Management Inc. lifted its stake in shares of Clene by 2.5% in the 3rd quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock valued at $315,000 after purchasing an additional 1,250 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Clene by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock valued at $482,000 after purchasing an additional 6,090 shares in the last quarter. 23.28% of the stock is owned by institutional investors.

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).