Clene (NASDAQ:CLNN) Posts Quarterly Earnings Results, Misses Estimates By $0.25 EPS

Clene (NASDAQ:CLNN - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.25), FiscalAI reports. The business had revenue of $0.02 million for the quarter.

Clene Trading Down 17.4%

Shares of CLNN stock traded down $1.64 during trading hours on Thursday, reaching $7.77. 95,600 shares of the company's stock were exchanged, compared to its average volume of 88,419. Clene has a fifty-two week low of $2.28 and a fifty-two week high of $13.50. The stock's 50 day moving average is $8.10 and its 200-day moving average is $5.29. The company has a market cap of $78.24 million, a price-to-earnings ratio of -2.07 and a beta of 0.72.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Clene stock. Jane Street Group LLC acquired a new stake in Clene Inc. (NASDAQ:CLNN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,095 shares of the company's stock, valued at approximately $47,000. Jane Street Group LLC owned approximately 0.15% of Clene at the end of the most recent reporting period. Institutional investors own 23.28% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wall Street Zen lowered shares of Clene from a "hold" rating to a "strong sell" rating in a report on Saturday, August 16th. Canaccord Genuity Group cut their target price on shares of Clene from $83.00 to $48.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. D. Boral Capital reiterated a "buy" rating and set a $23.00 price objective on shares of Clene in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Clene in a research report on Tuesday, October 14th. Finally, Benchmark dropped their price objective on Clene from $33.00 to $31.00 and set a "buy" rating on the stock in a research note on Wednesday, September 10th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $32.60.

View Our Latest Stock Report on Clene

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.

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