Clene (NASDAQ:CLNN) Major Shareholder Sells $42,830.37 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 6,831 shares of Clene stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $6.27, for a total value of $42,830.37. Following the completion of the transaction, the insider owned 800,664 shares of the company’s stock, valued at approximately $5,020,163.28. The trade was a 0.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Chidozie Ugwumba also recently made the following trade(s):

• On Tuesday, December 30th, Chidozie Ugwumba sold 4,138 shares of Clene stock. The stock was sold at an average price of $6.03, for a total value of $24,952.14.
• On Monday, December 29th, Chidozie Ugwumba sold 8,096 shares of Clene stock. The shares were sold at an average price of $5.95, for a total value of $48,171.20.
• On Friday, December 26th, Chidozie Ugwumba sold 3,350 shares of Clene stock. The shares were sold at an average price of $6.32, for a total value of $21,172.00.
• On Wednesday, December 24th, Chidozie Ugwumba sold 1,490 shares of Clene stock. The stock was sold at an average price of $6.27, for a total transaction of $9,342.30.
• On Monday, December 22nd, Chidozie Ugwumba sold 4,367 shares of Clene stock. The shares were sold at an average price of $6.54, for a total transaction of $28,560.18.
• On Friday, December 19th, Chidozie Ugwumba sold 5,582 shares of Clene stock. The stock was sold at an average price of $6.45, for a total transaction of $36,003.90.
• On Wednesday, December 3rd, Chidozie Ugwumba sold 56,577 shares of Clene stock. The stock was sold at an average price of $7.86, for a total transaction of $444,695.22.
• On Thursday, December 18th, Chidozie Ugwumba sold 5,816 shares of Clene stock. The shares were sold at an average price of $6.33, for a total transaction of $36,815.28.
• On Wednesday, December 17th, Chidozie Ugwumba sold 2,884 shares of Clene stock. The shares were sold at an average price of $6.61, for a total transaction of $19,063.24.
• On Tuesday, December 16th, Chidozie Ugwumba sold 7,030 shares of Clene stock. The stock was sold at an average price of $6.31, for a total value of $44,359.30.

Clene Stock Down 1.5%

Shares of CLNN opened at $5.87 on Friday. The stock’s fifty day simple moving average is $8.11 and its 200-day simple moving average is $6.33. The firm has a market capitalization of $60.64 million, a PE ratio of -1.73 and a beta of 0.88. Clene Inc. has a 12-month low of $2.28 and a 12-month high of $13.50.

Clene (NASDAQ:CLNN) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.25). The business had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.06 million. Analysts anticipate that Clene Inc. will post -5.19 EPS for the current year.

Institutional Trading of Clene

Several hedge funds have recently added to or reduced their stakes in CLNN. Jones Financial Companies Lllp bought a new position in Clene during the third quarter worth about $29,000. Jane Street Group LLC bought a new position in shares of Clene during the 2nd quarter valued at about $47,000. Lunt Capital Management Inc. grew its position in shares of Clene by 71.2% in the 2nd quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock valued at $199,000 after purchasing an additional 21,217 shares during the period. Finally, Scoggin Management LP grew its position in shares of Clene by 42.8% in the 2nd quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock valued at $558,000 after purchasing an additional 42,750 shares during the period. Institutional investors and hedge funds own 23.28% of the company’s stock.

Wall Street Analyst Weigh In

CLNN has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clene in a report on Tuesday, October 14th. Benchmark reaffirmed a “buy” rating on shares of Clene in a research note on Thursday, December 4th. D. Boral Capital reiterated a “buy” rating and issued a $23.00 price objective on shares of Clene in a report on Wednesday, December 10th. Finally, UBS Group restated a “buy” rating on shares of Clene in a report on Wednesday, December 3rd. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.60.

Clene Company Profile

Clene (NASDAQ: CLNN), also known as Clene Nanomedicine, is a clinical-stage biopharmaceutical company developing proprietary nanoparticle therapies aimed at treating neurodegenerative and demyelinating disorders. The company’s flagship product, CNM-Au8, is a suspension of catalytic gold nanocrystals designed to enhance cellular energy metabolism, promote remyelination, and reduce oxidative stress. Clene’s platform leverages the unique physicochemical properties of its nanoparticles to support neuronal health, with a focus on diseases that currently lack effective disease-modifying treatments.

Clene’s lead candidate, CNM-Au8, is undergoing multiple clinical trials targeting conditions such as amyotrophic lateral sclerosis (ALS), Parkinson’s disease, and multiple sclerosis (MS).