Insider Selling: Clene (NASDAQ:CLNN) Major Shareholder Sells $67,377.80 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 12,665 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $5.32, for a total value of $67,377.80. Following the sale, the insider directly owned 605,159 shares in the company, valued at approximately $3,219,445.88. This represents a 2.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 Friday, January 23rd, Chidozie Ugwumba sold 5,556 shares of Clene stock. The shares were sold at an average price of $5.27, for a total value of $29,280.12.
• 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 Stock Performance

NASDAQ:CLNN opened at $5.31 on Monday. The stock has a 50-day simple moving average of $6.75 and a 200 day simple moving average of $6.53. Clene Inc. has a 52-week low of $2.28 and a 52-week high of $13.50. The company has a market cap of $57.61 million, a PE 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) earnings per share 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 analysts’ expectations of $0.06 million. On average, research analysts predict that Clene Inc. will post -5.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clene

A number of hedge funds and other institutional investors have recently bought and sold shares of CLNN. Scoggin Management LP raised its stake in Clene by 75.1% in the third 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. Lunt Capital Management Inc. increased its holdings in shares of Clene by 2.5% during 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 during the last quarter. Jane Street Group LLC bought a new stake in Clene in the 2nd quarter valued at $47,000. Finally, Jones Financial Companies Lllp bought a new stake in Clene in the 3rd quarter valued at $29,000. Institutional investors own 23.28% of the company’s stock.

Analysts Set New Price Targets

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