Tang Capital Management LLC recently announced the acquisition of new stake in Clene Inc. (NASDAQ:CLNN). This fresh investment now brings its stake to 1.49% valued currently at $1.1 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.12 million to 0.92 million shares. And Simplex Trading LLC has lifted its position by 8,415.43% or 0.13 million shares – to 0.13 million shares.
With over 0.49 million Clene Inc. (CLNN) shares trading Tuesday and a closing price of $1.50 on the day, the dollar volume was approximately $0.73 million. The shares have shown a negative half year performance of -68.94% and its price on 01/17/23 gained nearly 14.50%. Currently, there are 63.51M common shares owned by the public and among those 27.20M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for CLNN have a consensus price objective of $8.80. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $4.00. The average price target is 83.64% above its recent price level and an upside to the estimated low will see the stock gain 62.5% over that period. But an upside of 90.0% will see the stock hit the forecast high price target while median target price for the stock is $8.00.
Insiders at the company have transacted a total of 33 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 6,784,768 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 464,508 shares.
The top 3 mutual fund holders in Clene Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.59 million shares of the company’s stock, all valued at over $0.59 million. Fidelity Extended Market Index Fu now owns shares totaling to 0.15% of the shares outstanding.
Shares of Clene Inc. (NASDAQ: CLNN) opened at $1.33, up $0.02 from a prior closing price of $1.31. However, the script later moved the day high at 1.7000, up 14.50%. The company’s stock has a 5-day price change of 44.23% and 0.00% over the past three months. CLNN shares are trading 50.00% year to date (YTD), with the 12-month market performance down to -50.17% lower. It has a 12-month low price of $0.87 and touched a high of $5.13 over the same period. CLNN has an average intraday trading volume of 252.03K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 44.66%, 45.38%, and -36.89% respectively.
Institutional ownership of Clene Inc. (NASDAQ: CLNN) shares accounts for 6.00% of the company’s 63.51M shares outstanding. Mutual fund holders own 4.20%, while other institutional holders and individual stakeholders account for 47.22% and 1.67% respectively.
It has a market capitalization of $103.97M and a beta (3y monthly) value of 0.19. The earnings-per-share (ttm) stands at -$0.39. Price movements for the stock have been influenced by the stock’s volatility, which stands at 15.66% over the week and 12.69% over the month.
Analysts forecast that Clene Inc. (CLNN) will achieve an EPS of -$0.22 for the current quarter, -$0.19 for the next quarter and -$0.72 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.3 while analysts give the company a high EPS estimate of -$0.19. Comparatively, EPS for the current quarter was $0.42 a year ago. Earnings per share for the fiscal year are expected to increase by 85.60%, and 10.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Clene Inc. (CLNN) as a “Strong Buy” at a consensus score of 1.80. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
H.C. Wainwright coverage for the Clene Inc. (CLNN) stock in a research note released on July 18, 2022 offered a Buy rating with a price target of $16. Canaccord Genuity was of a view on May 02, 2022 that the stock is Buy, while Oppenheimer gave the stock Outperform rating on September 28, 2021, issuing a price target of $20.