Brokerages Set Clene Inc. (NASDAQ:CLNN) PT at $32.60

Shares of Clene Inc. (NASDAQ:CLNN) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $32.60.

Several research firms recently commented on CLNN. Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a research note on Friday, January 9th. Benchmark reaffirmed a “buy” rating on shares of Clene in a report on Thursday, December 4th. UBS Group reissued a “buy” rating on shares of Clene in a research note on Wednesday, December 3rd. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $23.00 price objective on shares of Clene in a research note on Friday, January 9th.

Clene Trading Down 1.1%

NASDAQ:CLNN opened at $4.59 on Tuesday. The stock has a 50 day moving average of $5.21 and a two-hundred day moving average of $6.63. Clene has a 12 month low of $2.28 and a 12 month high of $13.50. The firm has a market cap of $49.80 million, a P/E ratio of -1.35 and a beta of 0.82.

Insider Activity at Clene

In related news, major shareholder Chidozie Ugwumba sold 15,284 shares of Clene stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $4.32, for a total transaction of $66,026.88. Following the transaction, the insider owned 565,045 shares in the company, valued at approximately $2,440,994.40. This trade represents a 2.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 525,239 shares of company stock valued at $3,144,162 over the last ninety days. 35.30% of the stock is currently owned by company insiders.

Institutional Trading of Clene

A number of hedge funds and other institutional investors have recently modified their holdings of CLNN. Jones Financial Companies Lllp acquired a new position in shares of Clene during the 3rd quarter valued at about $29,000. Jane Street Group LLC purchased a new position in Clene during the second quarter worth about $47,000. State Street Corp boosted its holdings in Clene by 138.4% in the 4th quarter. State Street Corp now owns 29,801 shares of the company’s stock valued at $175,000 after purchasing an additional 17,300 shares during the last quarter. PEAK6 LLC purchased a new stake in shares of Clene in the 4th quarter valued at approximately $294,000. Finally, Lunt Capital Management Inc. increased its holdings in shares of Clene by 2.5% during the 3rd quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock worth $315,000 after buying an additional 1,250 shares during the last quarter. 23.28% of the stock is owned by institutional investors and hedge funds.

Clene Company Profile

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).