Clene (NASDAQ:CLNN) Receives “Buy” Rating from Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Clene (NASDAQ:CLNN) in a research note issued to investors on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a $48.00 price target on the stock.

CLNN has been the subject of a number of other reports. D. Boral Capital reissued a “buy” rating and issued a $23.00 target price on shares of Clene in a research note on Thursday. Benchmark reaffirmed a “buy” rating on shares of Clene in a research report on Thursday, December 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clene in a report on Friday, January 9th. Finally, UBS Group reiterated a “buy” rating on shares of Clene in a research report on Wednesday, December 3rd. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.60.

Clene Stock Down 3.4%

Shares of NASDAQ CLNN opened at $5.72 on Friday. Clene has a twelve month low of $2.28 and a twelve month high of $13.50. The stock has a market cap of $62.06 million, a price-to-earnings ratio of -2.20 and a beta of 0.62. The company’s fifty day moving average is $4.98 and its 200-day moving average is $6.70.

Clene (NASDAQ:CLNN) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.14). The company had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.03 million. On average, research analysts anticipate that Clene will post -5.19 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Chidozie Ugwumba sold 15,284 shares of the business’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $4.32, for a total value of $66,026.88. Following the sale, the insider directly owned 565,045 shares in the company, valued at $2,440,994.40. The trade was a 2.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 293,754 shares of company stock valued at $1,587,329. Company insiders own 35.30% of the company’s stock.

Institutional Investors Weigh In On Clene

A number of hedge funds and other institutional investors have recently bought and sold shares of CLNN. State Street Corp lifted its stake in Clene by 138.4% in the 4th quarter. State Street Corp now owns 29,801 shares of the company’s stock valued at $175,000 after acquiring an additional 17,300 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Clene by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock worth $482,000 after acquiring an additional 6,090 shares in the last quarter. Scoggin Management LP grew its stake in shares of Clene by 42.8% during 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. SymBiosis Capital Partners LLC acquired a new stake in shares of Clene in the fourth quarter valued at approximately $4,523,000. Finally, Ensign Peak Advisors Inc raised its holdings in shares of Clene by 668.6% in the fourth quarter. Ensign Peak Advisors Inc now owns 114,361 shares of the company’s stock valued at $671,000 after purchasing an additional 99,481 shares during the last quarter. Institutional investors and hedge funds own 23.28% of the company’s stock.

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).