Roth Capital Estimates Clene’s FY2024 Earnings (NASDAQ:CLNN)

Clene Inc. (NASDAQ:CLNN) – Equities researchers at Roth Capital cut their FY2024 EPS estimates for shares of Clene in a research note issued to investors on Wednesday, November 13th. Roth Capital analyst J. Aschoff now forecasts that the company will earn ($5.07) per share for the year, down from their prior forecast of ($4.90). The consensus estimate for Clene’s current full-year earnings is ($5.19) per share. Roth Capital also issued estimates for Clene’s Q4 2024 earnings at ($1.11) EPS, FY2025 earnings at ($3.30) EPS, FY2026 earnings at ($2.66) EPS, FY2027 earnings at $6.30 EPS and FY2028 earnings at $8.88 EPS.

CLNN has been the subject of a number of other research reports. Canaccord Genuity Group reduced their price objective on Clene from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $31.00 target price on shares of Clene in a research note on Thursday, November 14th. Finally, EF Hutton Acquisition Co. I upgraded shares of Clene to a “strong-buy” rating in a research report on Tuesday, September 10th.

Clene Stock Performance

Shares of CLNN stock opened at $4.66 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.66. The business has a 50 day moving average of $5.38 and a two-hundred day moving average of $5.93. The company has a market cap of $38.96 million, a P/E ratio of -0.88 and a beta of 0.42. Clene has a 52 week low of $3.82 and a 52 week high of $12.00.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Clene stock. Castleview Partners LLC bought a new position in Clene Inc. (NASDAQ:CLNN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned 0.19% of Clene at the end of the most recent reporting period. 23.28% of the stock is currently owned by institutional investors.

Insider Transactions at Clene

In related news, Director David J. Matlin acquired 92,307 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average cost of $4.75 per share, for a total transaction of $438,458.25. Following the completion of the purchase, the director now directly owns 444,491 shares in the company, valued at $2,111,332.25. This trade represents a 26.21 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Mark Mortenson acquired 20,512 shares of Clene stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average cost of $4.75 per share, with a total value of $97,432.00. Following the acquisition, the insider now directly owns 28,949 shares of the company’s stock, valued at approximately $137,507.75. This trade represents a 243.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 25.10% of the company’s stock.

Clene Company Profile

Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. Its lead drug candidate is CNM-Au8, which is being studied in various clinical trials, including a completed Phase 2 platform trial to evaluate the safety and efficacy of CNM-Au8 in 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.