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Clene (NASDAQ:CLNNW) Stock, Option Chain

Clene Inc is a clinical-stage pharmaceutical company pioneering the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. It is focused on the development of therapeutics for neurodegenerative diseases. It developed an electro-crystal-chemistry drug development platform that enables the production of concentrated, stable, clean-surfaced nanocrystal suspensions. It operates in one segment the development and commercialization of dietary supplements (Supplements).

Clene Inc

News

Guidance

INMD

InMode Expects Full-Year 2025 Revenue Of $395M - $405M, Est $421.368M

Experts are raising concerns about MicroStrategy&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) increasingly leveraged Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) strategy, as its Net Asset Value (NAV) premium narrows and the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42138209/microstrategy-trading-at-insane-256-premium-to-bitcoin-holdings-research-shows">pace of its Bitcoin acquisitions slows.</a>
Analysts tell Benzinga the market is maturing beyond reliance on singular entities like MicroStrategy, and the company must now demonstrate strategic value <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42275232/leveraged-microstrategy-etfs-are-playing-with-fire-experts-warn">beyond simply holding Bitcoin</a>.
This shift marks a critical juncture as the cryptocurrency market seeks sustainable growth independent of individual players.
A Protos story <a href="https://protos.com/bitcoin-up-microstrategy-down-over-past-30-days/">highlights</a> that in the past month, MSTR declined 12% while Bitcoin rose 3%.
This discrepancy has raised questions about the sustainability of MicroStrategy's approach, particularly as its software business becomes increasingly negligible and the company has become <a href="https://www.benzinga.com/24/12/42377436/microstrategys-michael-saylor-risks-breaking-down-the-magic-money-creation-machine-with-his-growing-bitcoin-bet-says-expert">almost entirely a Bitcoin proxy</a>.
Despite the company holding $45 billion in Bitcoin, its $88 billion market cap is supported by a 93% premium, which has been steadily decreasing since Nov. 20.
<h2 class="wp-block-heading">MicroStrategy&#8217;s NAV Premium Decline Signals Market Maturation</h2>
Experts point to several reasons for the narrowing NAV premium, a key metric reflecting the market&#8217;s valuation of MSTR relative to its Bitcoin holdings. 
Azeem Khan, co-founder of Morph, states the shrinking premium is primarily due to &#8220;dilution—MicroStrategy issuing more shares to buy Bitcoin spreads value thinner, making each share less appealing&#8221; and a &#8220;cooling market&#8221; after initial excitement over its Bitcoin-centric strategy. 
Todd Ruoff, CEO of Autonomys, argues the narrowing is a sign of "market maturation" indicating a need for MSTR to show &#8220;strategic value beyond its BTC holdings,&#8221; such as "technology, treasury management, or new innovations." 
Rich Rines, an initial contributor to Core, also attributes the drop to "heightened Bitcoin volatility" and "increased short-term risk pricing," while noting that "alternative leveraged Bitcoin plays are now emerging."
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42856923/cftc-chairman-rostin-behnam-to-step-down-in-february">CFTC Chairman Rostin Behnam To Step Down In February</a>
<h2 class="wp-block-heading">Are MicroStrategy&#8217;s Slowing Bitcoin Buys A Problem?</h2>
The slowing pace of MicroStrategy&#8217;s Bitcoin purchases has also drawn attention. 
Khan criticizes the strategy, calling it a &#8220;house of cards&#8221; as the company relies on a feedback loop where rising BTC prices enable further debt or share issuance for more BTC purchases.
Ruoff sees it as a "more disciplined approach" amid a challenging economic environment, suggesting the need to evaluate MSTR as "a company managing both crypto assets and operational risks." 
Peter Chung, Head of Research at Presto Labs, notes that reduced purchases may be a misnomer, pointing out that, &#8220;MSTR was unexpectedly front-loading a lot of its 3yr buying plan." 
Rines connects the reduced purchasing directly with the shrinking NAV premium, explaining, &#8220;The premium essentially funds their ability to acquire more BTC, so when it&#8217;s compressed, their buying capacity slows.&#8221;
<h2 class="wp-block-heading">What Does This Mean For MicroStrategy&#8217;s Future?</h2>
Experts are divided in their short and medium-term assessments of MicroStrategy&#8217;s prospects. 
Khan expects short-term gains due to the &#8220;bullish&#8221; crypto market, but he fears a medium-term &#8220;bear market triggered by an event forcing MSTR to liquidate its Bitcoin holdings.&#8221; 
He warns of the concentration of Bitcoin in a single entity, which creates a "single point of failure for Bitcoin" and is not in line with Bitcoin&#8217;s core values. 
Ruoff stresses volatility and earnings scrutiny in the short term, but in the medium term, believes "MSTR will likely need to redefine its narrative." 
Chung notes the quiet period before the 4Q24 earnings release may impact sentiment. Rines predicts continued volatility tied to Bitcoin&#8217;s performance, while also noting that "the NAV premium will likely face continued compression."
<h2 class="wp-block-heading">MicroStrategy&#8217;s Effect On The Bitcoin Bull Market</h2>
Crucially, all experts agree that Bitcoin&#8217;s future is not reliant on MicroStrategy&#8217;s actions. 
"Bitcoin performed exceptionally well before Michael Saylor started buying and will continue to thrive without it," Khan said. 
Ruoff added that Bitcoin's maturity as a global asset has reduced reliance on single entities. 
"The decoupling of MSTR from BTC's performance is a healthy sign," he noted.
Rines highlighted the role of innovations like Bitcoin staking and DeFi in sustaining market growth. 
"Even if MicroStrategy slows its purchases, demand from other institutions and advancements in Bitcoin DeFi will ensure continued adoption," he said.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42854789/bitcoin-could-peak-by-late-march-arthur-hayes-says-heres-why">Bitcoin Could Peak By Late March, Arthur Hayes Says: Here&#8217;s Why</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

MSTR

What MicroStrategy's (Declining) Net Asset Value Premium Really Means For Bitcoin

InMode Cuts FY24 Revenue Outlook From $410M - $420M To $394M - $394.5M, Est $411.188M

Truist Securities analyst Joon Lee initiates coverage on Solid Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLDB#NASDAQ">SLDB</a>) with a Buy rating and announces Price Target of $16.

Price Target

Initiation

Analyst Ratings

SLDB

Truist Securities Initiates Coverage On Solid Biosciences with Buy Rating, Announces Price Target of $16

ECARX Holdings Announced That Its Cloudpeak Hypervisor, A Core Component Of Its Cloudpeak Software Stack, Received The Highest Level Of Functional Safety Certification, Automotive Safety Integrity Level D, Under The ISO 26262 Standard

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Truist Securities analyst Robyn Karnauskas downgraded the rating for Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) from Buy to Hold and lowered the price target from $130 to $110. Merck shares closed at $101.02 on Tuesday. <a href="https://www.benzinga.com/quote/MRK/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Goldman Sachs analyst Alex Scott downgraded American International Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>) from Buy to Neutral and lowered the price target from $83 to $79. American Intl shares closed at $72.59 on Tuesday. <a href="https://www.benzinga.com/quote/AIG/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Deutsche Bank analyst Brad Zelnick downgraded the rating for Palo Alto Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) from Buy to Hold and lowered the price target from $207 to $190. Palo Alto shares closed at $175.51 on Tuesday. <a href="https://www.benzinga.com/quote/PANW/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup analyst Vikram Bagri downgraded the rating for SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) from Neutral to Sell and cut the price target from $12 to $9. SolarEdge Technologies shares closed at $17.59 on Tuesday. <a href="https://www.benzinga.com/quote/SEDG/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Deutsche Bank analyst Brad Zelnick downgraded Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) from Buy to Hold and lowered the price target from $600 to $475. Adobe shares closed at $422.63 on Tuesday. <a href="https://www.benzinga.com/quote/ADBE/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying ADBE stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="589" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08071359/image-45-1024x589.png" alt="" class="wp-image-723790" style="width:567px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08071359/image-45-1024x589.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08071359/image-45-300x172.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08071359/image-45-768x441.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08071359/image-45.png 1082w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/price-target/25/01/42846607/bank-of-new-york-mellon-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call">Bank of New York Mellon Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a></li>
</ul>

Downgrades

Pre-Market Outlook

Markets

Trading Ideas

ADBE

PANW

SEDG

This Adobe Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Wednesday

Biotech

Health Care

General

TLSA

Tiziana Life Sciences Announced That A Review Article Was Published In Nature Reviews Neurology, Highlighting The Therapeutic Potential Of Intranasal Foralumab In Various Neurodegenerative Diseases

Barclays analyst Adrienne Yih upgrades Tapestry (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPR#NYSE">TPR</a>) from Equal-Weight to Overweight and raises the price target from $57 to $87.

Upgrades

Barclays Upgrades Tapestry to Overweight, Raises Price Target to $87

BSEM

Biostem Technologies Announces The Initiation Of The Br-am-dfu (bioretain Amniotic Membrane - Diabetic Foot Ulcers) Clinical Trial To Evaluate Vendaje Versus Standard Of Care For Patients Suffering With Non-healing Diabetic Foot Ulcers

Management believes that preliminary results reflect stronger-than-expected headwinds in the aesthetics industry, further intensified by broader macroeconomic challenges.&nbsp;

InMode Expects Q4 Revenue Of $97.0M-$97.5M (Est $114.22M); Preliminary Results Reflect Stronger-than-Expected Headwinds In Aesthetics Industry

Jasper Therapeutics, Inc. - Class A Common Stock

JSPR

Jasper Therapeutics Reported Positive Preliminary Data From Jasper's Ongoing BEACON Phase 1b/2a Study Of Subcutaneous Briquilimab In Adult Participants With CSU

Piper Sandler analyst Paul Newsome upgrades Arthur J. Gallagher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>) from Neutral to Overweight and raises the price target from $285 to $315.

Piper Sandler Upgrades Arthur J. Gallagher to Overweight, Raises Price Target to $315

JP Morgan analyst Marcelo Santos maintains MercadoLibre (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) with a Neutral and lowers the price target from $2150 to $1950.

MELI

JP Morgan Maintains Neutral on MercadoLibre, Lowers Price Target to $1950

CURE PHARMA HLDG CORP by CURE Pharmaceutical Holding Corp.

CURR

Currenc Group Announced The Launch Of Its Seamless Ai Call Centre Solutions, A Suite Of AI-powered Tools Designed To Reduce Costs, Increase Efficiency And Boost Customer Satisfaction

GRMN

Garmin Announced A New Montana Series – The Montana 710, Montana 710i And Robust Montana 760i – To Its Collection Of Handheld GPS Navigators

VK2375 is being developed in both oral and subcutaneous formulations for the potential treatment of various metabolic disorders such as obesity.

VKTX

Viking Therapeutics Initiates Phase 2 Clinical Trial Of The Oral Tablet Formulation Of VK2735

JMP Securities analyst Silvan Tuerkcan initiates coverage on Context Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNTX#NASDAQ">CNTX</a>) with a Market Outperform rating and announces Price Target of $4.

CNTX

JMP Securities Initiates Coverage On Context Therapeutics with Market Outperform Rating, Announces Price Target of $4

BFLY

Butterfly Network Announced That It Expects To Report Revenue Growth For The Fourth Quarter Ended December 31, 2024 Of Approximately 35% Year Over Year

<ul>
<li>Provides 2025 Annual Guidance of $178 - $182 Million in Revenue and $38 -&nbsp;$42 Million of Adjusted EBITDA, Representing Year-Over-Year Increase of 13% in Revenues and 19% in Adjusted EBITDA Based on Mid-Point of 2024 Annual Guidance</li>
<li>Expects to Achieve 2024 Guidance of $158 - $162 Million in Revenue and $32 - $35 Million of Adjusted EBITDA; 2024 Year-End Cash of $78 Million</li>
<li>Aiming to Secure New Business Development and M&amp;A Transactions During 2025 that Leverage Overall Financial Strength and Existing Commercial Infrastructure to Accelerate Long-Term Growth</li>
<li>Expansion of Plasma Collection Operations with Opening of a Third Center by End of Q1 2025</li>
<li>Based on Positive Feedback from U.S. FDA, Kamada Plans to Reduce Inhaled AAT Clinical Study Sample Size to Approximately 180 Patients; Interim Futility Analysis Planned by End of 2025</li>
</ul>

KMDA

Kamada Reaffirms 2024 Targets, Unveils 2025 Guidances, Revenue Of $178M-$182M Vs. $171.18M Est. And Adj.EBITDA Of $38M-$42M

The aggregate gross proceeds to uniQure from the offering, before deducting the underwriting discounts and commissions and offering expenses payable by uniQure, are expected to be approximately $75 million.&nbsp;

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