Clene (NASDAQ:CLNN) Issues Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Clene (NASDAQ:CLNN) issued its earnings results on Thursday. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.05), FiscalAI reports. The company had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.05 million.

Clene Stock Performance

Shares of CLNN opened at $7.14 on Friday. The company has a 50 day moving average price of $6.01 and a 200-day moving average price of $6.39. Clene has a fifty-two week low of $2.28 and a fifty-two week high of $13.50. The stock has a market capitalization of $84.11 million, a PE ratio of -2.23 and a beta of 0.89.

Insider Buying and Selling at Clene

In other news, major shareholder Chidozie Ugwumba sold 73,296 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $6.20, for a total value of $454,435.20. Following the completion of the sale, the insider owned 103,417 shares of the company’s stock, valued at approximately $641,185.40. This represents a 41.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 327,677 shares of company stock valued at $2,043,481. 28.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CLNN. Jane Street Group LLC bought a new position in shares of Clene during the 2nd quarter worth approximately $47,000. State Street Corp raised its stake in shares of Clene by 138.4% during the 4th quarter. State Street Corp now owns 29,801 shares of the company’s stock worth $175,000 after acquiring an additional 17,300 shares in the last quarter. PEAK6 LLC bought a new position in shares of Clene during the 4th quarter worth approximately $294,000. Geode Capital Management LLC raised 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. Finally, Scoggin Management LP raised 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. Institutional investors own 23.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CLNN shares. Roth Mkm restated a “buy” rating on shares of Clene in a research report on Thursday. HC Wainwright reiterated a “buy” rating and issued a $31.00 price target on shares of Clene in a report on Monday, May 4th. D. Boral Capital reiterated a “buy” rating and issued a $23.00 price target on shares of Clene in a report on Monday, May 4th. Weiss Ratings upgraded shares of Clene from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 8th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $48.00 price objective on shares of Clene in a research note on Friday, March 13th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.25.

About Clene

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).