Clene (NASDAQ:CLNN) Posts Earnings Results, Misses Expectations By $0.71 EPS

Clene (NASDAQ:CLNN) announced its quarterly earnings results on Friday. The company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.71), FiscalAI reports. The company had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.06 million.

Clene Trading Down 1.2%

Shares of CLNN stock traded down $0.05 on Friday, reaching $4.14. 58,954 shares of the company’s stock were exchanged, compared to its average volume of 252,360. The company’s fifty day simple moving average is $5.63 and its 200 day simple moving average is $5.64. Clene has a 52 week low of $3.53 and a 52 week high of $13.50. The stock has a market capitalization of $52.91 million, a PE ratio of -1.29 and a beta of 0.96.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CLNN shares. HC Wainwright reiterated a “buy” rating and set a $31.00 target price on shares of Clene in a research report on Monday, May 4th. Weiss Ratings cut shares of Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 30th. D. Boral Capital reaffirmed a “buy” rating and set a $23.00 price target on shares of Clene in a research note on Monday, May 4th. Finally, Roth Capital reiterated a “buy” rating on shares of Clene in a research report on Thursday, May 14th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $33.25.

Institutional Trading of Clene

Several institutional investors and hedge funds have recently made changes to their positions in CLNN. Geode Capital Management LLC lifted its holdings in Clene by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock valued at $482,000 after buying an additional 6,090 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Clene during the second quarter worth approximately $47,000. State Street Corp raised its stake in shares of Clene by 138.4% during the fourth quarter. State Street Corp now owns 29,801 shares of the company’s stock valued at $175,000 after acquiring an additional 17,300 shares in the last quarter. Scoggin Management LP raised its stake in shares of Clene by 42.7% during the second quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock valued at $558,000 after acquiring an additional 42,750 shares in the last quarter. Finally, PEAK6 LLC purchased a new stake in shares of Clene in the fourth quarter valued at approximately $294,000. 23.28% of the stock is currently owned by institutional investors.

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).