Research Analysts Issue Forecasts for Clene FY2024 Earnings

Clene Inc. (NASDAQ:CLNN) – Equities researchers at HC Wainwright boosted their FY2024 earnings estimates for shares of Clene in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst J. Pantginis now expects that the company will post earnings per share of ($5.31) for the year, up from their previous forecast of ($5.62). HC Wainwright has a “Buy” rating and a $31.00 price target 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.

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

Clene Trading Down 2.9 %

Shares of NASDAQ:CLNN opened at $4.40 on Monday. The company’s fifty day simple moving average is $5.40 and its 200 day simple moving average is $5.96. The firm has a market cap of $36.78 million, a price-to-earnings ratio of -0.83 and a beta of 0.42. The company has a quick ratio of 0.99, a current ratio of 0.83 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.

Insider Buying and Selling at Clene

In other news, Director David J. Matlin bought 92,307 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were bought at an average price of $4.75 per share, with a total value of $438,458.25. Following the completion of the transaction, the director now owns 444,491 shares of the company’s stock, valued at $2,111,332.25. This trade represents a 26.21 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark Mortenson acquired 20,512 shares of the company’s stock in a transaction on Monday, September 30th. The stock was acquired at an average price of $4.75 per share, with a total value of $97,432.00. Following the purchase, the insider now directly owns 28,949 shares in the company, valued at approximately $137,507.75. This 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.

Institutional Trading of Clene

An institutional investor recently bought a new position in Clene stock. Castleview Partners LLC acquired a new position in shares of Clene Inc. (NASDAQ:CLNN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned 0.19% of Clene as of its most recent SEC filing. 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.