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

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

Clene Price Performance

Shares of Clene stock opened at $4.14 on Friday. The business has a 50-day moving average of $5.60 and a 200 day moving average of $5.63. Clene has a 12 month low of $3.53 and a 12 month high of $13.50. The stock has a market capitalization of $52.91 million, a price-to-earnings ratio of -1.18 and a beta of 0.96.

Institutional Trading of Clene

Hedge funds have recently made changes to their positions in the business. PEAK6 LLC purchased a new position in shares of Clene in the fourth quarter valued at approximately $294,000. State Street Corp lifted its holdings in Clene by 138.4% during the 4th quarter. State Street Corp now owns 29,801 shares of the company’s stock worth $175,000 after buying an additional 17,300 shares in the last quarter. Ensign Peak Advisors Inc boosted its position in Clene by 668.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 114,361 shares of the company’s stock valued at $671,000 after buying an additional 99,481 shares during the period. SymBiosis Capital Partners LLC acquired a new position in shares of Clene in the fourth quarter worth $4,523,000. Finally, Geode Capital Management LLC raised its stake in shares of Clene by 8.0% in 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 in the last quarter. Institutional investors and hedge funds own 23.28% of the company’s stock.

Analyst Upgrades and Downgrades

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

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).