Clene (NASDAQ:CLNN) Announces Earnings Results

Clene (NASDAQ:CLNN) issued its earnings results on Monday. The company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($1.21) by ($0.46), Zacks reports. The firm had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.13 million. Clene had a negative return on equity of 1,106.30% and a negative net margin of 8,556.77%.

Clene Trading Down 5.3 %

Shares of CLNN stock opened at $3.92 on Tuesday. Clene has a 12-month low of $3.82 and a 12-month high of $9.20. The business’s fifty day simple moving average is $4.55 and its 200-day simple moving average is $4.91. The company has a market cap of $32.64 million, a PE ratio of -0.74 and a beta of 0.27.

Analyst Ratings Changes

Several research firms have recently commented on CLNN. HC Wainwright restated a “buy” rating and issued a $31.00 price target on shares of Clene in a report on Monday. D. Boral Capital reaffirmed a “buy” rating and set a $23.00 price objective on shares of Clene in a research report on Monday. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $55.25.

About Clene

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.