Clene (NASDAQ:CLNN) Posts Quarterly Earnings Results

Clene (NASDAQ:CLNN) issued its earnings results on Monday. The company reported ($1.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.21) by ($0.46), Zacks reports. Clene had a negative net margin of 8,556.77% and a negative return on equity of 1,106.30%.

Clene Price Performance

CLNN stock traded down $0.21 during mid-day trading on Monday, hitting $3.94. 20,054 shares of the stock were exchanged, compared to its average volume of 76,653. The business has a fifty day moving average price of $4.57 and a 200 day moving average price of $4.92. Clene has a 12 month low of $3.82 and a 12 month high of $9.20. The stock has a market capitalization of $32.76 million, a price-to-earnings ratio of -0.77 and a beta of 0.27.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. D. Boral Capital restated a “buy” rating and set a $23.00 target price on shares of Clene in a research report on Monday. HC Wainwright restated a “buy” rating and set a $31.00 target price on shares of Clene in a research report on Wednesday, March 12th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $55.25.

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.