Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 24,925 Shares

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 24,925 shares of Clene stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $4.81, for a total transaction of $119,889.25. Following the transaction, the insider owned 401,891 shares of the company’s stock, valued at $1,933,095.71. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• 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 value 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 value 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 value 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 value 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 value of $66,026.88.
• On Wednesday, January 28th, Chidozie Ugwumba sold 8,717 shares of Clene stock. The stock was sold at an average price of $4.91, for a total value of $42,800.47.
• On Tuesday, January 27th, Chidozie Ugwumba sold 4,139 shares of Clene stock. The stock was sold at an average price of $5.08, for a total value of $21,026.12.
• On Monday, January 26th, Chidozie Ugwumba sold 6,418 shares of Clene stock. The stock was sold at an average price of $5.02, for a total value of $32,218.36.
• On Friday, January 23rd, Chidozie Ugwumba sold 5,556 shares of Clene stock. The stock was sold at an average price of $5.27, for a total transaction of $29,280.12.
• On Thursday, January 22nd, Chidozie Ugwumba sold 12,665 shares of Clene stock. The stock was sold at an average price of $5.32, for a total transaction of $67,377.80.

Clene Stock Up 12.5%

Shares of NASDAQ CLNN opened at $5.76 on Tuesday. Clene Inc. has a twelve month low of $2.28 and a twelve month high of $13.50. The firm has a market cap of $67.85 million, a P/E ratio of -2.22 and a beta of 0.62. The company has a 50 day moving average of $5.00 and a 200 day moving average of $6.65.

Clene (NASDAQ:CLNN) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.14). The company had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.03 million. As a group, equities analysts expect that Clene Inc. will post -5.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clene

Hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp purchased a new stake in Clene during the 3rd quarter valued at $29,000. Jane Street Group LLC purchased a new stake in shares of Clene during the 2nd quarter valued at about $47,000. State Street Corp increased its position in shares of Clene by 138.4% during the 4th quarter. State Street Corp now owns 29,801 shares of the company’s stock valued at $175,000 after purchasing an additional 17,300 shares during the last quarter. PEAK6 LLC purchased a new stake in shares of Clene during the 4th quarter valued at about $294,000. Finally, Lunt Capital Management Inc. increased its position 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 valued at $315,000 after purchasing an additional 1,250 shares during the last quarter. 23.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CLNN shares. Canaccord Genuity Group reissued a “buy” rating and issued a $48.00 target price on shares of Clene in a research report on Friday, March 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a research report on Friday, January 9th. Finally, D. Boral Capital reissued a “buy” rating and issued a $23.00 target price on shares of Clene in a research report on Thursday, March 12th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.60.

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).