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Clene (CLNN) Stock Jumps 25.0%: Will It Continue to Soar?
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Clene Inc. (CLNN - Free Report) shares ended the last trading session 25% higher at $12.5. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 24.8% gain over the past four weeks.
The sudden stock price surge can be attributed to growing investor optimism regarding the potential of Clene’s only clinical pipeline candidate, CNM-Au8, a gold nanocrystal suspension, which is currently undergoing mid-stage development as a disease-modifying treatment for people living with amyotrophic lateral sclerosis and multiple sclerosis. The company is also evaluating the candidate for Parkinson’s disease in preclinical studies.
This company is expected to post quarterly loss of $0.60 per share in its upcoming report, which represents a year-over-year change of +50.8%. Revenues are expected to be $0.08 million, down 11.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Clene, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CLNN going forward to see if this recent jump can turn into more strength down the road.
Clene is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Monte Rosa Therapeutics (GLUE - Free Report) , finished the last trading session 1.2% lower at $12.85. GLUE has returned 70.5% over the past month.
For Monte Rosa Therapeutics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.39. This represents a change of -34.5% from what the company reported a year ago. Monte Rosa Therapeutics currently has a Zacks Rank of #4 (Sell).
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Clene (CLNN) Stock Jumps 25.0%: Will It Continue to Soar?
Clene Inc. (CLNN - Free Report) shares ended the last trading session 25% higher at $12.5. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 24.8% gain over the past four weeks.
The sudden stock price surge can be attributed to growing investor optimism regarding the potential of Clene’s only clinical pipeline candidate, CNM-Au8, a gold nanocrystal suspension, which is currently undergoing mid-stage development as a disease-modifying treatment for people living with amyotrophic lateral sclerosis and multiple sclerosis. The company is also evaluating the candidate for Parkinson’s disease in preclinical studies.
This company is expected to post quarterly loss of $0.60 per share in its upcoming report, which represents a year-over-year change of +50.8%. Revenues are expected to be $0.08 million, down 11.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Clene, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CLNN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Clene is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Monte Rosa Therapeutics (GLUE - Free Report) , finished the last trading session 1.2% lower at $12.85. GLUE has returned 70.5% over the past month.
For Monte Rosa Therapeutics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.39. This represents a change of -34.5% from what the company reported a year ago. Monte Rosa Therapeutics currently has a Zacks Rank of #4 (Sell).