Insider Selling: Clene (NASDAQ:CLNN) Major Shareholder Sells 12,119 Shares of Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 12,119 shares of the company’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $5.05, for a total transaction of $61,200.95. Following the transaction, the insider owned 617,824 shares of the company’s stock, valued at $3,120,011.20. This represents a 1.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major 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 Tuesday, January 20th, Chidozie Ugwumba sold 12,432 shares of Clene stock. The stock was sold at an average price of $4.80, for a total value 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 value 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 stock was 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 shares were sold at an average price of $4.89, for a total value 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 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 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 value 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.

Clene Trading Up 9.7%

Clene stock traded up $0.46 during midday trading on Wednesday, reaching $5.19. The stock had a trading volume of 131,571 shares, compared to its average volume of 99,286. The firm’s fifty day simple moving average is $6.94 and its two-hundred day simple moving average is $6.50. Clene Inc. has a twelve month low of $2.28 and a twelve month high of $13.50.

Clene (NASDAQ:CLNN) last released its earnings results on Thursday, November 13th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate 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. Research analysts forecast that Clene Inc. will post -5.19 EPS for the current year.

Institutional Trading of Clene

Institutional investors have recently made changes to their positions in the business. Lunt Capital Management Inc. boosted its holdings 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 purchasing an additional 1,250 shares in the last quarter. Jones Financial Companies Lllp bought a new position in shares of Clene during the 3rd quarter worth approximately $29,000. Jane Street Group LLC bought a new position in shares of Clene during the 2nd quarter worth approximately $47,000. Finally, Scoggin Management LP boosted its stake in Clene by 42.8% in the 2nd quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock valued at $558,000 after buying an additional 42,750 shares in the last quarter. 23.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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