Clene (NASDAQ:CLNN) Posts Earnings Results

Clene (NASDAQ:CLNN) posted its earnings results on Monday. The company reported ($1.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.21) by ($0.46), Zacks reports. Clene had a negative return on equity of 1,106.30% and a negative net margin of 8,556.77%.

Clene Trading Down 5.0 %

CLNN traded down $0.21 during trading on Monday, hitting $3.94. 20,054 shares of the company’s stock traded hands, compared to its average volume of 76,653. The company’s 50 day simple moving average is $4.57 and its two-hundred day simple moving average is $4.92. The stock has a market capitalization of $32.76 million, a price-to-earnings ratio of -0.77 and a beta of 0.27. Clene has a 12-month low of $3.82 and a 12-month high of $9.20.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. D. Boral Capital reiterated a “buy” rating and set a $23.00 target price on shares of Clene in a report on Monday. HC Wainwright restated a “buy” rating and issued a $31.00 price target on shares of Clene in a research note on Wednesday, March 12th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $55.25.

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.