HC Wainwright Has Bullish Estimate for Clene FY2024 Earnings

Clene Inc. (NASDAQ:CLNN) – Research analysts at HC Wainwright upped their FY2024 earnings estimates for Clene in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst J. Pantginis now forecasts that the company will post earnings of ($5.31) per share for the year, up from their prior estimate of ($5.62). HC Wainwright currently has a “Buy” rating and a $31.00 price objective on the stock. The consensus estimate for Clene’s current full-year earnings is ($5.19) per share. HC Wainwright also issued estimates for Clene’s Q4 2024 earnings at ($1.31) EPS, FY2025 earnings at ($5.00) EPS, FY2026 earnings at ($2.77) EPS, FY2027 earnings at $0.75 EPS and FY2028 earnings at $5.53 EPS.

Several other research firms have also recently commented on CLNN. EF Hutton Acquisition Co. I raised Clene to a “strong-buy” rating in a research note on Tuesday, September 10th. Canaccord Genuity Group decreased their price target on Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, November 14th.

Clene Stock Performance

Shares of Clene stock opened at $4.66 on Monday. The firm has a 50 day simple moving average of $5.38 and a 200 day simple moving average of $5.93. Clene has a fifty-two week low of $3.82 and a fifty-two week high of $12.00. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market cap of $38.96 million, a P/E ratio of -0.88 and a beta of 0.42.

Insider Buying and Selling at Clene

In related news, insider Mark Mortenson purchased 20,512 shares of the stock in a transaction dated Monday, September 30th. The stock was bought at an average cost of $4.75 per share, with a total value of $97,432.00. Following the purchase, the insider now directly owns 28,949 shares in the company, valued at $137,507.75. The trade was a 243.12 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director David J. Matlin purchased 92,307 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of $4.75 per share, for a total transaction of $438,458.25. Following the completion of the transaction, the director now directly owns 444,491 shares in the company, valued at $2,111,332.25. This trade represents a 26.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Clene

An institutional investor recently raised its position in Clene stock. Csenge Advisory Group grew its position in Clene Inc. (NASDAQ:CLNN) by 131.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 269,600 shares of the company’s stock after buying an additional 153,000 shares during the period. Csenge Advisory Group owned approximately 0.21% of Clene worth $96,000 at the end of the most recent quarter. Institutional investors own 23.28% of the company’s stock.

Clene Company Profile

Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. Its lead drug candidate is CNM-Au8, which is being studied in various clinical trials, including a completed Phase 2 platform trial to evaluate the safety and efficacy of CNM-Au8 in patients with amyotrophic lateral sclerosis (ALS); completed Phase 2 proof of concept clinical trial in patients with early symptomatic ALS; completed two open-label investigator blinded Phase 2 clinical trials on the brain's energy metabolites; completed Phase 2 clinical trial for the treatment of visual pathway deficits in chronic optic neuropathy for remyelination in stable relapsing Multiple Sclerosis; and a second Phase 2 clinical trial for the treatment of patients with Parkinson's Diseases.