What is HC Wainwright’s Forecast for Clene FY2024 Earnings?

Clene Inc. (NASDAQ:CLNN) – Stock analysts at HC Wainwright upped their FY2024 earnings estimates for shares of Clene in a research report issued on Wednesday, November 13th. HC Wainwright analyst J. Pantginis now anticipates that the company will earn ($5.31) per share for the year, up from their previous forecast of ($5.62). HC Wainwright currently has a “Buy” rating and a $31.00 target price on the stock. The consensus estimate for Clene’s current full-year earnings is ($5.19) per share. HC Wainwright also issued estimates for Clene’s Q4 2024 earnings at ($1.31) EPS, FY2025 earnings at ($5.00) EPS, FY2026 earnings at ($2.77) EPS, FY2027 earnings at $0.75 EPS and FY2028 earnings at $5.53 EPS.

Several other research firms also recently weighed in on CLNN. Canaccord Genuity Group lowered their target price on Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday. EF Hutton Acquisition Co. I raised Clene to a “strong-buy” rating in a research report on Tuesday, September 10th.

Clene Stock Performance

Shares of NASDAQ CLNN opened at $4.53 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.99 and a debt-to-equity ratio of 1.66. Clene has a 12-month low of $3.82 and a 12-month high of $12.00. The firm has a market capitalization of $37.87 million, a price-to-earnings ratio of -0.86 and a beta of 0.42. The firm has a 50 day moving average of $5.43 and a 200 day moving average of $5.99.

Insider Transactions at Clene

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

Institutional Investors Weigh In On Clene

A hedge fund recently raised its stake in Clene stock. Csenge Advisory Group increased its position in shares of Clene Inc. (NASDAQ:CLNN) by 131.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 269,600 shares of the company’s stock after buying an additional 153,000 shares during the period. Csenge Advisory Group owned about 0.21% of Clene worth $96,000 at the end of the most recent quarter. 23.28% of the stock is currently owned by institutional investors.

About Clene

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.