Roth Capital Has Bearish Forecast for Clene FY2024 Earnings

Clene Inc. (NASDAQ:CLNN) – Research analysts at Roth Capital decreased their FY2024 earnings per share (EPS) estimates for Clene in a research report issued on Wednesday, November 13th. Roth Capital analyst J. Aschoff now anticipates that the company will earn ($5.07) per share for the year, down from their prior forecast 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.

Several other research firms have also commented on CLNN. HC Wainwright reissued a “buy” rating and issued a $31.00 target price on shares of Clene in a report on Thursday. EF Hutton Acquisition Co. I upgraded 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 research note on Thursday.

Clene Stock Performance

CLNN opened at $4.53 on Monday. The firm has a market cap of $37.87 million, a P/E ratio of -0.86 and a beta of 0.42. The business’s fifty day moving average is $5.43 and its 200-day moving average is $5.99. Clene has a 52-week low of $3.82 and a 52-week high of $12.00. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.99 and a current ratio of 0.83.

Insider Activity at Clene

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

Institutional Trading of Clene

An institutional investor recently bought a new position in Clene stock. Castleview Partners LLC bought a new position in shares of Clene Inc. (NASDAQ:CLNN) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned 0.19% of Clene 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.