Roth Capital Predicts Clene’s FY2024 Earnings (NASDAQ:CLNN)

Clene Inc. (NASDAQ:CLNN) – Stock analysts at Roth Capital decreased their FY2024 earnings estimates for shares of Clene in a research report issued to clients and investors on Wednesday, November 13th. Roth Capital analyst J. Aschoff now forecasts that the company will post earnings of ($5.07) per share for the year, down from their prior estimate of ($4.90). The consensus estimate for Clene’s current full-year earnings is ($5.19) per share. Roth Capital also issued estimates for Clene’s Q4 2024 earnings at ($1.11) EPS, FY2025 earnings at ($3.30) EPS, FY2026 earnings at ($2.66) EPS, FY2027 earnings at $6.30 EPS and FY2028 earnings at $8.88 EPS.

A number of other equities research analysts have also recently commented on the stock. HC Wainwright restated a “buy” rating and set a $31.00 target price on shares of Clene in a research note on Thursday, November 14th. EF Hutton Acquisition Co. I upgraded shares of Clene to a “strong-buy” rating in a research note on Tuesday, September 10th. Finally, 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 Trading Down 2.9 %

Shares of CLNN stock opened at $4.40 on Monday. Clene has a 1 year low of $3.82 and a 1 year high of $12.00. The firm has a fifty day moving average price of $5.40 and a 200-day moving average price of $5.96. The company has a market cap of $36.78 million, a price-to-earnings ratio of -0.83 and a beta of 0.42. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.83 and a quick ratio of 0.99.

Insider Activity at Clene

In other news, insider Mark Mortenson purchased 20,512 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average price of $4.75 per share, for a total transaction of $97,432.00. Following the completion of the purchase, the insider now owns 28,949 shares in the company, valued at approximately $137,507.75. This represents a 243.12 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David J. Matlin bought 92,307 shares of the company’s stock in a transaction on Monday, September 30th. The shares were acquired at an average price of $4.75 per share, for a total transaction of $438,458.25. Following the completion of the acquisition, the director now owns 444,491 shares in the company, valued at $2,111,332.25. This represents a 26.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 25.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clene

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