Clene (NASDAQ:CLNN) Announces Quarterly Earnings Results

Clene (NASDAQ:CLNN) posted its quarterly earnings data on Wednesday. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.50, FiscalAI reports. The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.07 million.

Clene Stock Performance

NASDAQ:CLNN traded down $0.19 during trading on Thursday, reaching $3.91. The company’s stock had a trading volume of 16,410 shares, compared to its average volume of 211,368. The firm has a market cap of $50.74 million, a price-to-earnings ratio of -1.10 and a beta of 1.04. Clene has a 12 month low of $3.02 and a 12 month high of $11.23. The firm has a 50 day moving average of $3.92 and a 200-day moving average of $5.14.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. HC Wainwright restated a “buy” rating on shares of Clene in a research note on Monday, October 19th. Weiss Ratings downgraded Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 27th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Clene has an average rating of “Moderate Buy” and a consensus target price of $34.00.

About Clene

Clene Inc is a clinical-stage biopharmaceutical company developing nanotherapeutic treatments for neurodegenerative diseases. The company’s lead product candidate, CNM-Au8, is an investigational oral suspension containing catalytically active gold nanocrystals designed to support cellular energy production and reduce oxidative stress, with the goal of protecting and improving the function of nerve cells.

Clene has studied CNM-Au8 in conditions including amyotrophic lateral sclerosis (ALS) and multiple sclerosis (MS), and has also investigated its potential applications in other neurodegenerative disorders.