Insider Selling: Clene (NASDAQ:CLNN) Major Shareholder Sells $100,459.52 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 19,621 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $5.12, for a total value of $100,459.52. Following the transaction, the insider owned 662,861 shares of the company’s stock, valued at approximately $3,393,848.32. This trade represents a 2.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, January 15th, Chidozie Ugwumba sold 12,563 shares of Clene stock. The stock was sold at an average price of $5.10, for a total transaction of $64,071.30.
• 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 transaction 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 stock was sold at an average price of $6.09, for a total transaction of $19,457.55.
• On Wednesday, January 7th, Chidozie Ugwumba sold 3,938 shares of Clene stock. The shares were sold at an average price of $6.29, for a total transaction 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 value of $76,081.95.

Clene Trading Down 1.2%

Shares of NASDAQ:CLNN opened at $5.05 on Monday. Clene Inc. has a 1-year low of $2.28 and a 1-year high of $13.50. The firm has a market capitalization of $54.79 million, a PE ratio of -1.49 and a beta of 0.87. The business’s 50 day moving average is $7.14 and its 200-day moving average is $6.48.

Clene (NASDAQ:CLNN) last issued its earnings results on Thursday, November 13th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.25). The company had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.06 million. On average, sell-side analysts predict that Clene Inc. will post -5.19 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Lunt Capital Management Inc. boosted its holdings in shares of Clene by 2.5% in the 3rd quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock worth $315,000 after acquiring an additional 1,250 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in Clene in the third quarter worth $29,000. Jane Street Group LLC acquired a new position in Clene in the second quarter worth $47,000. Finally, Scoggin Management LP grew its holdings in shares of 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 purchasing an additional 42,750 shares during the last quarter. Institutional investors own 23.28% of the company’s stock.

Analysts Set New Price Targets

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

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).