Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 5,736 Shares

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 5,736 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $6.08, for a total value of $34,874.88. Following the transaction, the insider directly owned 277,569 shares in the company, valued at approximately $1,687,619.52. The trade was a 2.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 29th, Chidozie Ugwumba sold 12,170 shares of Clene stock. The stock was sold at an average price of $5.63, for a total value of $68,517.10.
• On Tuesday, April 28th, Chidozie Ugwumba sold 1,591 shares of Clene stock. The stock was sold at an average price of $5.90, for a total value of $9,386.90.
• On Tuesday, April 21st, Chidozie Ugwumba sold 61,345 shares of Clene stock. The stock was sold at an average price of $6.14, for a total value of $376,658.30.
• On Monday, April 20th, Chidozie Ugwumba sold 4,318 shares of Clene stock. The stock was sold at an average price of $6.12, for a total value of $26,426.16.
• 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 value of $161,007.20.
• On Thursday, April 16th, Chidozie Ugwumba sold 7,748 shares of Clene stock. The shares were sold at an average price of $6.40, for a total transaction of $49,587.20.
• On Wednesday, April 15th, Chidozie Ugwumba sold 6,374 shares of Clene stock. The shares were sold at an average price of $6.48, for a total transaction of $41,303.52.
• On Thursday, April 2nd, Chidozie Ugwumba sold 24,925 shares of Clene stock. The shares were 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 shares were 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 shares were sold at an average price of $4.10, for a total transaction of $22,791.90.

Clene Price Performance

NASDAQ:CLNN traded up $0.36 during mid-day trading on Thursday, hitting $6.16. The company’s stock had a trading volume of 58,233 shares, compared to its average volume of 89,880. Clene Inc. has a 1 year low of $2.28 and a 1 year high of $13.50. The stock has a market cap of $72.55 million, a price-to-earnings ratio of -2.37 and a beta of 0.62. The business’s fifty day moving average is $5.65 and its two-hundred day moving average is $6.50.

Clene (NASDAQ:CLNN) last posted its earnings results on Thursday, March 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.14). The firm had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.03 million. Analysts anticipate that Clene Inc. will post -1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CLNN. Canaccord Genuity Group reissued a “buy” rating and set a $48.00 target price on shares of Clene in a research note on Friday, March 13th. Weiss Ratings lowered shares of Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 22nd. Finally, D. Boral Capital reiterated a “buy” rating and issued a $23.00 target price on shares of Clene in a research report on Thursday, March 12th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Lunt Capital Management Inc. lifted its stake in Clene by 2.5% in the 3rd quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock valued at $315,000 after buying an additional 1,250 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in Clene in the 3rd quarter valued at about $29,000. Geode Capital Management LLC raised its holdings in Clene by 8.0% in the 4th 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. Jane Street Group LLC acquired a new stake in Clene in the 2nd quarter valued at about $47,000. Finally, State Street Corp boosted its holdings in shares of Clene by 138.4% during the 4th quarter. State Street Corp now owns 29,801 shares of the company’s stock worth $175,000 after purchasing an additional 17,300 shares during the last quarter. 23.28% of the stock is owned by hedge funds and other institutional investors.

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).