Clene (NASDAQ:CLNN) Stock Price Up 1.9% – Should You Buy?

Clene Inc. (NASDAQ:CLNN)’s share price rose 1.9% during mid-day trading on Monday . The stock traded as high as $6.39 and last traded at $6.39. 72,478 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 69,915 shares. The stock had previously closed at $6.27.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CLNN shares. Weiss Ratings cut shares of Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 26th. HC Wainwright restated a “buy” rating and issued a $31.00 price objective on shares of Clene in a report on Monday, May 4th. Roth Capital reaffirmed a “buy” rating on shares of Clene in a research note on Thursday, May 14th. Finally, D. Boral Capital reiterated a “buy” rating and set a $23.00 target price on shares of Clene in a report on Monday, May 4th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.25.

Clene Trading Down 2.3%

The firm has a fifty day moving average of $6.24 and a 200 day moving average of $5.70. The company has a market capitalization of $77.26 million, a P/E ratio of -1.89 and a beta of 0.92.

Clene (NASDAQ:CLNN) last posted its earnings results on Thursday, May 14th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.05). The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.05 million. Sell-side analysts anticipate that Clene Inc. will post -1.58 EPS for the current fiscal year.

Insider Buying and Selling at Clene

In related news, major shareholder Chidozie Ugwumba sold 73,296 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $6.20, for a total transaction of $454,435.20. Following the transaction, the insider owned 103,417 shares in the company, valued at $641,185.40. This represents a 41.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 292,100 shares of company stock worth $1,861,027 over the last three months. 28.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Clene

A number of large investors have recently added to or reduced their stakes in CLNN. Jane Street Group LLC bought a new position in shares of Clene during the 2nd quarter valued at $47,000. State Street Corp grew its holdings in shares of Clene by 138.4% in the fourth quarter. State Street Corp now owns 29,801 shares of the company’s stock worth $175,000 after acquiring an additional 17,300 shares during the period. PEAK6 LLC purchased a new stake in Clene during the fourth quarter valued at $294,000. Geode Capital Management LLC increased its position in Clene by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock valued at $482,000 after acquiring an additional 6,090 shares during the last quarter. Finally, Scoggin Management LP lifted its holdings in Clene by 42.7% in 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 during the period. Institutional investors own 23.28% of the company’s stock.

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).