shares of clene inc moved lower tuesday extending mondays selloff as several wall street analysts took a dimmer view of the stock following disappointing results from a study in amyotrophic lateral sclerosis or als clene shares tumbled more than 28 monday after the salt lake city utah company said its lead asset cnmau8 missed the primary and secondary endpoints in the healey platform study evaluating several drug candidates for als a progressive neurodegenerative disease commonly known as lou gehrigs disease in a research note oppenheimer analysts leland gershell and trevor allred noted that while clene reported a therapeutic signal that leaves the door open for continued development of the 30milligram dose of cnmau8 in als they are moving to the sidelines as they await clarity on a path to potential regulatory approval oppenheimer cut its rating on clene shares to perform from outperform and removed its 17 price target on the stock meanwhile benchmark analyst bruce jackson who on monday said he still believes cnmau8 will ultimately win us food and drug administration approval reiterated that stance on tuesday but cut his price target in clene shares to 11 from 25 due to an extended timeline to any approval clene shares were recently trading at 191 down 52 after touching 170their lowest level since the company went public in late 2020 through a merger with a blankcheck companyearly in the session