Clene (NASDAQ:CLNN) Major Shareholder Sells $64,071.30 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 12,563 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $5.10, for a total value of $64,071.30. Following the completion of the sale, the insider directly owned 650,298 shares of the company’s stock, valued at $3,316,519.80. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, January 14th, Chidozie Ugwumba sold 19,621 shares of Clene stock. The shares were sold at an average price of $5.12, for a total value of $100,459.52.
• On Tuesday, January 13th, Chidozie Ugwumba sold 26,105 shares of Clene stock. The stock was sold at an average price of $4.89, for a total value of $127,653.45.
• On Monday, January 12th, Chidozie Ugwumba sold 32,705 shares of Clene stock. The shares were sold at an average price of $5.50, for a total transaction of $179,877.50.
• On Friday, January 9th, Chidozie Ugwumba sold 9,075 shares of Clene stock. The shares were sold at an average price of $6.27, for a total transaction of $56,900.25.
• On Thursday, January 8th, Chidozie Ugwumba sold 3,195 shares of Clene stock. The shares were sold at an average price of $6.09, for a total value of $19,457.55.
• On Wednesday, January 7th, Chidozie Ugwumba sold 3,938 shares of Clene stock. The stock was sold at an average price of $6.29, for a total value of $24,770.02.
• On Tuesday, January 6th, Chidozie Ugwumba sold 3,111 shares of Clene stock. The shares were sold at an average price of $6.04, for a total transaction of $18,790.44.
• On Monday, January 5th, Chidozie Ugwumba sold 5,869 shares of Clene stock. The stock was sold at an average price of $5.87, for a total value of $34,451.03.
• On Friday, January 2nd, Chidozie Ugwumba sold 4,015 shares of Clene stock. The shares were sold at an average price of $5.73, for a total value of $23,005.95.
• On Wednesday, December 31st, Chidozie Ugwumba sold 13,095 shares of Clene stock. The shares were sold at an average price of $5.81, for a total transaction of $76,081.95.

Clene Trading Down 1.2%

Shares of NASDAQ:CLNN opened at $5.05 on Monday. The company has a market capitalization of $54.79 million, a PE ratio of -1.49 and a beta of 0.87. Clene Inc. has a 12-month low of $2.28 and a 12-month high of $13.50. The business’s fifty day simple moving average is $7.14 and its 200-day simple moving average is $6.48.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on CLNN shares. D. Boral Capital reaffirmed a “buy” rating and set a $23.00 target price on shares of Clene in a report on Friday, January 9th. UBS Group reaffirmed a “buy” rating on shares of Clene in a research note on Wednesday, December 3rd. Benchmark reiterated a “buy” rating on shares of Clene in a research note on Thursday, December 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a report on Friday, January 9th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.60.

Hedge Funds Weigh In On Clene

Hedge funds and other institutional investors have recently modified their holdings of the business. Lunt Capital Management Inc. raised its holdings in 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 acquiring an additional 21,217 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Clene in the second quarter valued at approximately $47,000. Scoggin Management LP lifted its position in Clene by 42.8% during the second quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock worth $558,000 after buying an additional 42,750 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in Clene during the third quarter worth $29,000. 23.28% of the stock is owned by hedge funds and other institutional investors.

About Clene

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).