Brokerages Expect Clene Inc. (NASDAQ:CLNN) Will Post Earnings of -$0.20 Per Share

Equities research analysts expect Clene Inc. (NASDAQ:CLNNGet Rating) to report ($0.20) earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Clene’s earnings, with the highest EPS estimate coming in at ($0.19) and the lowest estimate coming in at ($0.21). Clene reported earnings per share of ($0.21) during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.8%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Clene will report full-year earnings of ($0.72) per share for the current fiscal year, with EPS estimates ranging from ($0.81) to ($0.67). For the next financial year, analysts forecast that the business will report earnings of $0.02 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Clene.

Clene (NASDAQ:CLNNGet Rating) last announced its quarterly earnings data on Friday, March 11th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The business had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $0.14 million.

Several equities analysts recently issued reports on the company. Roth Capital reiterated a “buy” rating on shares of Clene in a research report on Monday, February 14th. Canaccord Genuity Group initiated coverage on Clene in a research note on Monday, May 2nd. They issued a “buy” rating and a $10.00 target price on the stock. Zacks Investment Research upgraded Clene from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Canaccord Genuity Group started coverage on Clene in a research note on Monday, May 2nd. They set a “buy” rating and a $10.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Clene presently has a consensus rating of “Buy” and a consensus target price of $13.17.

Shares of Clene stock traded up $0.07 during trading on Tuesday, hitting $2.21. 180,009 shares of the company were exchanged, compared to its average volume of 115,684. The firm has a market capitalization of $139.80 million, a P/E ratio of 9.61 and a beta of 0.37. Clene has a 1-year low of $1.93 and a 1-year high of $17.82. The firm’s fifty day moving average price is $2.92 and its 200 day moving average price is $3.59. The company has a debt-to-equity ratio of 9.64, a current ratio of 7.77 and a quick ratio of 7.76.

In other Clene news, Director David J. Matlin purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 28th. The shares were acquired at an average price of $3.10 per share, for a total transaction of $31,000.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David J. Matlin purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 18th. The stock was acquired at an average price of $2.79 per share, for a total transaction of $55,800.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 227,891 shares of company stock worth $667,902. Company insiders own 28.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CLNN. State Street Corp grew its holdings in Clene by 126.7% in the 4th quarter. State Street Corp now owns 883,258 shares of the company’s stock valued at $3,621,000 after buying an additional 493,581 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in shares of Clene during the 4th quarter worth $1,106,000. BlackRock Inc. grew its holdings in shares of Clene by 7.5% during the 4th quarter. BlackRock Inc. now owns 1,145,686 shares of the company’s stock worth $4,697,000 after purchasing an additional 79,960 shares in the last quarter. Morgan Jess S & Co. Inc. grew its holdings in shares of Clene by 193.3% during the 1st quarter. Morgan Jess S & Co. Inc. now owns 87,250 shares of the company’s stock worth $344,000 after purchasing an additional 57,500 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Clene during the 4th quarter worth $159,000. 23.07% of the stock is currently owned by hedge funds and other institutional investors.

Clene Company Profile (Get Rating)

Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. Its lead drug is CNM-Au8, which is being studied in various clinical trials, including a Phase 2/3 registrational clinical trial for 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; ongoing Phase 2 clinical trial for the treatment of visual pathway deficits in chronic optic neuropathy for remyelination in stable relapsing Multiple Sclerosis; and a planned Phase 2 clinical trial for the treatment of patients with Parkinson's Diseases.

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