Clene (NASDAQ:CLNN) Major Shareholder Sells $41,303.52 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 6,374 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $6.48, for a total transaction of $41,303.52. Following the completion of the transaction, the insider owned 395,517 shares in the company, valued at $2,562,950.16. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% 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 Friday, April 17th, Chidozie Ugwumba sold 25,040 shares of Clene stock. The stock was sold at an average price of $6.43, for a total transaction of $161,007.20.
• On Thursday, April 16th, Chidozie Ugwumba sold 7,748 shares of Clene stock. The stock was sold at an average price of $6.40, for a total transaction of $49,587.20.
• On Thursday, April 2nd, Chidozie Ugwumba sold 24,925 shares of Clene stock. The stock was sold at an average price of $4.81, for a total transaction of $119,889.25.
• On Wednesday, April 1st, Chidozie Ugwumba sold 4,278 shares of Clene stock. The stock was sold at an average price of $4.97, for a total transaction of $21,261.66.
• On Tuesday, February 3rd, Chidozie Ugwumba sold 5,559 shares of Clene stock. The stock was sold at an average price of $4.10, for a total transaction of $22,791.90.
• On Monday, February 2nd, Chidozie Ugwumba sold 3,800 shares of Clene stock. The stock was sold at an average price of $4.04, for a total transaction of $15,352.00.
• On Friday, January 30th, Chidozie Ugwumba sold 5,686 shares of Clene stock. The stock was sold at an average price of $4.13, for a total transaction of $23,483.18.
• On Thursday, January 29th, Chidozie Ugwumba sold 15,284 shares of Clene stock. The stock was sold at an average price of $4.32, for a total transaction of $66,026.88.
• On Wednesday, January 28th, Chidozie Ugwumba sold 8,717 shares of Clene stock. The shares were sold at an average price of $4.91, for a total transaction of $42,800.47.
• On Tuesday, January 27th, Chidozie Ugwumba sold 4,139 shares of Clene stock. The shares were sold at an average price of $5.08, for a total transaction of $21,026.12.

Clene Stock Performance

NASDAQ CLNN opened at $6.31 on Monday. The firm’s 50 day moving average price is $5.36 and its 200-day moving average price is $6.66. 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 $74.33 million, a PE ratio of -2.43 and a beta of 0.62.

Clene (NASDAQ:CLNN) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.14). The firm had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.03 million. On average, analysts forecast that Clene Inc. will post -5.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clene

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SymBiosis Capital Partners LLC purchased a new stake in Clene during the fourth quarter valued at approximately $4,523,000. Scoggin Management LP lifted its position in Clene by 75.1% during the third quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock valued at $1,506,000 after acquiring an additional 107,250 shares during the last quarter. Ensign Peak Advisors Inc lifted its position in Clene by 668.6% during the fourth quarter. Ensign Peak Advisors Inc now owns 114,361 shares of the company’s stock valued at $671,000 after acquiring an additional 99,481 shares during the last quarter. Geode Capital Management LLC lifted its position in Clene by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock valued at $482,000 after acquiring an additional 6,090 shares during the last quarter. Finally, Lunt Capital Management Inc. lifted its position in Clene by 2.5% during the third quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock valued at $315,000 after acquiring an additional 1,250 shares during the last quarter. Hedge funds and other institutional investors own 23.28% of the company’s stock.

Analysts Set New Price Targets

CLNN has been the topic of a number of recent research reports. Canaccord Genuity Group reiterated a “buy” rating and set a $48.00 price objective on shares of Clene in a research note on Friday, March 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clene in a research note on Friday, January 9th. Finally, D. Boral Capital reiterated a “buy” rating and set a $23.00 price objective on shares of Clene in a research note on Thursday, March 12th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

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).