Chidozie Ugwumba Sells 5,582 Shares of Clene (NASDAQ:CLNN) Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 5,582 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $6.45, for a total value of $36,003.90. Following the completion of the sale, the insider directly owned 387,568 shares in the company, valued at approximately $2,499,813.60. This represents a 1.42% decrease in their ownership of the stock. 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 shares are required to disclose their transactions with the SEC.

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

• On Monday, December 22nd, Chidozie Ugwumba sold 4,367 shares of Clene stock. The stock was sold at an average price of $6.54, for a total value of $28,560.18.
• On Wednesday, December 3rd, Chidozie Ugwumba sold 56,577 shares of Clene stock. The stock was sold at an average price of $7.86, for a total transaction of $444,695.22.
• On Thursday, December 18th, Chidozie Ugwumba sold 5,816 shares of Clene stock. The shares were sold at an average price of $6.33, for a total transaction of $36,815.28.
• On Wednesday, December 17th, Chidozie Ugwumba sold 2,884 shares of Clene stock. The shares were sold at an average price of $6.61, for a total transaction of $19,063.24.
• On Tuesday, December 16th, Chidozie Ugwumba sold 7,030 shares of Clene stock. The stock was sold at an average price of $6.31, for a total transaction of $44,359.30.
• On Monday, December 15th, Chidozie Ugwumba sold 10,580 shares of Clene stock. The stock was sold at an average price of $6.49, for a total transaction of $68,664.20.
• On Friday, December 12th, Chidozie Ugwumba sold 7,603 shares of Clene stock. The shares were sold at an average price of $6.79, for a total transaction of $51,624.37.
• On Thursday, December 11th, Chidozie Ugwumba sold 10,907 shares of Clene stock. The stock was sold at an average price of $6.81, for a total transaction of $74,276.67.
• On Wednesday, December 10th, Chidozie Ugwumba sold 9,921 shares of Clene stock. The shares were sold at an average price of $6.42, for a total value of $63,692.82.
• On Tuesday, December 9th, Chidozie Ugwumba sold 15,031 shares of Clene stock. The shares were sold at an average price of $5.95, for a total value of $89,434.45.

Clene Stock Down 2.8%

Shares of Clene stock traded down $0.18 on Tuesday, reaching $6.26. The company’s stock had a trading volume of 68,658 shares, compared to its average volume of 107,521. Clene Inc. has a 52 week low of $2.28 and a 52 week high of $13.50. The firm’s fifty day simple moving average is $8.48 and its two-hundred day simple moving average is $6.26. The company has a market capitalization of $64.67 million, a price-to-earnings ratio of -1.85 and a beta of 0.79.

Clene (NASDAQ:CLNN) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.25). The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.06 million. As a group, research analysts predict that Clene Inc. will post -5.19 EPS for the current year.

Institutional Investors Weigh In On Clene

A number of hedge funds have recently modified their holdings of the business. Scoggin Management LP raised its holdings in Clene by 75.1% in the 3rd quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock worth $1,506,000 after purchasing an additional 107,250 shares during the period. Lunt Capital Management Inc. increased its position in Clene by 2.5% in the third quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock worth $315,000 after buying an additional 1,250 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in Clene in the third quarter worth about $29,000. Finally, Jane Street Group LLC bought a new position in shares of Clene in the second quarter worth about $47,000. Institutional investors own 23.28% of the company’s stock.

Analysts Set New Price Targets

CLNN has been the subject of several research reports. D. Boral Capital reissued a “buy” rating and set a $23.00 price objective on shares of Clene in a report on Wednesday, December 10th. Benchmark reiterated a “buy” rating on shares of Clene in a research note on Thursday, December 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a report on Tuesday, October 14th. Finally, UBS Group restated a “buy” rating on shares of Clene in a research note on Wednesday, December 3rd. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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).