Clene Inc. (NASDAQ:CLNN) Expected to Announce Quarterly Sales of $70,000.00

Posted by on Jun 2nd, 2022

Analysts forecast that Clene Inc. (NASDAQ:CLNN – Get Rating) will post sales of $70,000.00 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Clene’s earnings. The lowest sales estimate is $30,000.00 and the highest is $100,000.00. Clene posted sales of $200,000.00 during the same quarter last year, which suggests a negative year-over-year growth rate of 65%. The business is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Clene will report full year sales of $210,000.00 for the current year, with estimates ranging from $120,000.00 to $300,000.00. For the next year, analysts forecast that the firm will report sales of $75.50 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Clene.

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

CLNN has been the subject of a number of research reports. Canaccord Genuity Group initiated coverage on shares of Clene in a research note on Monday, May 2nd. They set a “buy” rating and a $10.00 target price for the company. Canaccord Genuity Group started coverage on shares of Clene in a research note on Monday, May 2nd. They set a “buy” rating and a $10.00 price objective for the company. Roth Capital reaffirmed a “buy” rating on shares of Clene in a research note on Monday, February 14th. Finally, Zacks Investment Research raised shares of Clene from a “sell” rating to a “hold” rating in a research note on Friday, May 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Clene currently has a consensus rating of “Buy” and a consensus price target of $12.20.

In other Clene news, Director David J. Matlin bought 20,000 shares of Clene stock in a transaction on Friday, March 18th. The shares were bought at an average cost of $2.79 per share, for a total transaction of $55,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David J. Matlin bought 35,000 shares of Clene stock in a transaction on Monday, March 21st. The shares were acquired at an average price of $2.90 per share, for a total transaction of $101,500.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 262,891 shares of company stock worth $747,352. Company insiders own 28.70% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. purchased a new stake in shares of Clene in the 1st quarter valued at approximately $70,000. State Street Corp increased its position in shares of Clene by 2.3% in the 1st quarter. State Street Corp now owns 903,885 shares of the company’s stock valued at $3,561,000 after purchasing an additional 20,627 shares during the last quarter. Morgan Jess S & Co. Inc. increased its position in shares of Clene by 193.3% in the 1st quarter. Morgan Jess S & Co. Inc. now owns 87,250 shares of the company’s stock valued at $344,000 after purchasing an additional 57,500 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Clene by 23.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 164,309 shares of the company’s stock valued at $648,000 after purchasing an additional 31,227 shares during the last quarter. Finally, Veritable L.P. purchased a new stake in shares of Clene in the 1st quarter valued at approximately $79,000. 23.07% of the stock is currently owned by institutional investors.

CLNN stock opened at $2.29 on Thursday. The stock has a market capitalization of $144.86 million, a P/E ratio of 9.96 and a beta of 0.37. The firm has a 50-day simple moving average of $2.82 and a 200-day simple moving average of $3.38. The company has a quick ratio of 7.76, a current ratio of 7.77 and a debt-to-equity ratio of 9.64. Clene has a 52 week low of $1.93 and a 52 week high of $17.82.

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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