What is HC Wainwright’s Estimate for Clene FY2024 Earnings?

Clene Inc. (NASDAQ:CLNN) – Stock analysts at HC Wainwright boosted their FY2024 earnings estimates for Clene in a research note issued on Wednesday, November 13th. HC Wainwright analyst J. Pantginis now expects that the company will post earnings per share of ($5.31) for the year, up from their previous estimate of ($5.62). HC Wainwright currently has a “Buy” rating and a $31.00 target price 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 brokerages have also recently issued reports on CLNN. Canaccord Genuity Group reduced their price target on shares of Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday. EF Hutton Acquisition Co. I upgraded Clene to a “strong-buy” rating in a research report on Tuesday, September 10th.

Clene Stock Down 3.4 %

Shares of NASDAQ:CLNN opened at $4.53 on Monday. The company has a market cap of $37.87 million, a PE ratio of -0.86 and a beta of 0.42. Clene has a 1 year low of $3.82 and a 1 year high of $12.00. The stock’s 50-day moving average is $5.43 and its 200 day moving average is $5.99. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.83 and a quick ratio of 0.99.

Hedge Funds Weigh In On Clene

A hedge fund recently bought a new stake in Clene stock. Castleview Partners LLC acquired a new stake in shares of Clene Inc. (NASDAQ:CLNN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,783 shares of the company’s stock, valued at approximately $59,000. Castleview Partners LLC owned about 0.19% of Clene as of its most recent SEC filing. Hedge funds and other institutional investors own 23.28% of the company’s stock.

Insider Activity

In related news, Director David J. Matlin purchased 92,307 shares of the stock in a transaction dated Monday, September 30th. The stock was purchased at an average price of $4.75 per share, with a total value of $438,458.25. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Mortenson purchased 20,512 shares of the company’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 $97,432.00. Following the purchase, the insider now owns 28,949 shares in the company, valued at $137,507.75. This represents a 243.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 25.10% 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.