Clene (NASDAQ:CLNN) Major Shareholder Sells $29,280.12 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 5,556 shares of the company’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $5.27, for a total value of $29,280.12. Following the sale, the insider owned 599,603 shares of the company’s stock, valued at $3,159,907.81. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% 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 Thursday, January 22nd, Chidozie Ugwumba sold 12,665 shares of Clene stock. The shares were sold at an average price of $5.32, for a total value of $67,377.80.
• On Wednesday, January 21st, Chidozie Ugwumba sold 12,119 shares of Clene stock. The stock was sold at an average price of $5.05, for a total transaction of $61,200.95.
• On Tuesday, January 20th, Chidozie Ugwumba sold 12,432 shares of Clene stock. The shares were sold at an average price of $4.80, for a total transaction of $59,673.60.
• On Friday, January 16th, Chidozie Ugwumba sold 7,923 shares of Clene stock. The stock was sold at an average price of $5.13, for a total transaction of $40,644.99.
• 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 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 transaction 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 transaction of $127,653.45.
• On Monday, January 12th, Chidozie Ugwumba sold 32,705 shares of Clene stock. The stock was sold at an average price of $5.50, for a total value 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 value 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 value of $19,457.55.

Clene Price Performance

Shares of CLNN stock opened at $5.31 on Monday. The stock’s fifty day moving average price is $6.75 and its 200 day moving average price is $6.53. Clene Inc. has a 1-year low of $2.28 and a 1-year high of $13.50. The company has a market cap of $57.61 million, a price-to-earnings ratio of -1.57 and a beta of 0.87.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lunt Capital Management Inc. boosted its holdings in Clene by 71.2% in the second 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 last quarter. Scoggin Management LP lifted its holdings in shares of Clene by 75.1% in the 3rd quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock valued at $1,506,000 after buying an additional 107,250 shares during the period. Jane Street Group LLC purchased a new stake in shares of Clene in the second quarter worth about $47,000. Finally, Jones Financial Companies Lllp acquired a new stake in Clene during the third quarter worth about $29,000. 23.28% of the stock is currently owned by institutional investors and hedge funds.

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).